11 Steps to survive an IRS 1099-MISC audit

Vendor payment compliance guide

11 Steps to take NOW to survive an IRS audit and avoid insane penalties Table of Contents A strong year-round vendor payment process is critical  U.S. penalties  Foreign penalties  Get started Ensure that your vendor is not an employee Is your vendor a U.S. or foreign entity/individual? Reporting on payments to U.S. vendors Step 1: Obtain a W-9 form PRIOR to payment Step 2: Track all payments made without a W-9 form Step 3: Ensure all W-9 forms are correct and complete

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Guide to services

A payment for services is typically for labor that is performed directly by another person. Examples include accountants, doctors, lawyers, painters, and independent contractors. Unlike

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Guide to merchandise and goods

Merchandise, telegrams, telephone service, freight, storage, and similar items Payments of bills for merchandise, telegrams, telephone, freight, storage and similar charges are not Form 1099-MISC

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