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Learn MoreHow confident are you that your finance staff is accurately and timely filing Forms 1042-S? IRS has its eye on those information returns. Recently, the Treasury Inspector General for Tax Administration (TIGTA) released a performance audit, looking at the Service’s…
After months of hype and talk about the new 1099-NEC, it’s almost time for your A/P team to file these forms. Of course, like most tax forms and IRS procedures, the 1099-NEC has a few quirks. And since this is…
How far can states go when requesting and assessing your company's finance records in an unclaimed property audit? A recent court case, State of Delaware, Department of Finance v. AT&T Inc., helped to set the record straight. As you know,…
The hectic 1099 season is fast approaching, and 2020 filing deadlines will be here before your finance team knows it. Due to recent developments – from the revived 1099-NEC to all the process changes that resulted from the coronavirus pandemic…
Though the 1099-NEC was revived to simplify year-end filing, there’s one aspect that will make things more complicated for your finance team. IRS recently released Publication 1220, Specifications for Electronic Filing of Forms 1097, 1098, 1099, 3921, 3922, 5498, and…
As year-end inches closer, there’s one surefire way CFOs can guarantee more accuracy for information returns: IRS’s TIN Matching tool. Sure, your finance staffers have heard about this verification tool. But are they actually using it – and using it…
Remind Finance to stay sharp! IRS recently sent out its latest round of notices with proposed penalties for information return errors. And if any of these pesky 972CG notices arrive in your team’s mail pile, you should know IRS has…
Despite the hectic times finance departments are in right now, fall unclaimed property deadlines are still coming up fast. Monitoring and timely filing unclaimed property can pose challenges for Finance any year. But this year, there are additional challenges due to the…
Good news: Your company can safely reimburse remote employees for their home internet access without jeopardizing your compliance. The IRS chief of employment tax examination in the Small Business/Self-Employed Division recently weighed in on this timely tech topic. Of course,…
To avoid costly interest and penalties, filing unclaimed property accurately and timely is now even more important for companies. In a recent case, the New York Supreme Court essentially said companies are automatically liable for interest on any unclaimed property they have in the…
Springtime is fast approaching. And, as Finance knows, so are unclaimed property deadlines in many states across the country. But this spring’s not just like any other. There’s been an increase in auditors working on behalf of states to ferret…
With fall reporting deadlines right around the corner for Finance, you may want to take a second look at your company’s process. Unclaimed property (UP) is a growing area of interest for states, say the corporate finance and compliance experts…
Resourceful Finance Pro, part of the SuccessFuel Network, provides the latest Finance and employment law news for Finance professionals in the trenches of small-to-medium-sized businesses. Rather than simply regurgitating the day's headlines, Resourceful Finance Pro delivers actionable insights, helping Finance execs understand what Finance trends mean to their business.
