Information Reporting and Compliance – News you can use

News and Information about 1099 and IRS information reporting

, Updated FFI Agreement Has Been Released and Posted to the FATCA Website

Updated FFI Agreement Has Been Released and Posted to the FATCA Website

Since FATCA has gone into place it has garnered a large amount of opposition and created some unforeseen externalities. However, international financial institutions are still readily signing up to report to the IRS via...

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, IRS WARNS AGAINST PERVASIVE PHONE SCAM

IRS WARNS AGAINST PERVASIVE PHONE SCAM

The IRS renewed its Oct. 2013 warning about a pervasive phone scam that continues to target people across the nation, including recent immigrants. The Treasury Inspector General for Tax Administration called it the largest scam...

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, E-file deadline rapidly approaching

E-file deadline rapidly approaching

The e-file deadline is just three days away. If you believe you will not meet the IRS reporting requirements before this deadline the time to file for an extension is now. Remember, it is...

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, Health Care Law and 2013 Tax Return

Health Care Law and 2013 Tax Return

What do you need to know about health care reform and your 2013 tax return? According to the IRS most people will not see the impacts of the Affordable Care Act on their 2013...

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Update: FATCA Financial Institution Registration

Since the IRS FATCA registration website has become available (Aug 19 2013) financial institution registration can begin. If you have enter data into your FATCA account after Aug 19 2013, it has been saved...

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, Common Misconceptions on 1099 Reporting

Common Misconceptions on 1099 Reporting

1. Misconception: 1099 Reporting for the state is not necessary if there is no state tax withheld. Truth: The majority of states’ regulations say that 1099s have to be filed regardless of withholdings. Look...

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, Benefits of going paperless with financial documents

Benefits of going paperless with financial documents

By eliminating paper and automating your accounts payable and accounts receivable processing you will lower you time and cost per invoice. This is one process that every company must deal with on a day...

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, Notice 2011-38_IRS Introduces Shortened TIN Option

Notice 2011-38_IRS Introduces Shortened TIN Option

What started out as a pilot program now appears to be a permanent change. The IRS permits filers to use an abbreviated version of the Tax Identification Number (TIN). This program was introduced to...

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, How the Affordable Care Act changes Tax Reporting

How the Affordable Care Act changes Tax Reporting

Since the Affordable Care Act has been implemented many things remain uncertain surrounding its functionality. It has put many changes into action and also created many unforeseen externalities for Americans. However, one that was...

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IRS Changes 1099-DIV

This year the 1099-DIV form, which is used by banks to report dividends and other distributions to both taxpayers and the IRS. A few changes have been made to the forms layout so some...

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