Episode 27: Ask the Experts, Volume 2

Episode 28: IOFM Conference Takeaways: Anxiety, Complexity, and AI

At this year’s IOFM Spring Conference in Orlando, one theme kept surfacing over and over again: uncertainty. In this episode of Information Return Intelligence, Jason shares his biggest takeaways from conversations with AP professionals, compliance teams, and attendees across the conference floor. While the sessions themselves were valuable, the real insights came from listening to the concerns people are facing every day in the information reporting world. Three major themes emerged: • Growing anxiety around information reporting compliance • Frustration with increasing complexity and constantly changing rules • Confusion and uncertainty surrounding artificial intelligence and AP technology Jason discusses the upcoming transition from the FIRE system to IRIS, the new 1099 reporting thresholds, ongoing worker classification confusion, and why so many professionals feel overwhelmed by overlapping IRS, DOL, and state rules. The episode also explores the current state of AI in the AP and information reporting space — including skepticism about vendor claims, pressure from management to “use AI,” and the challenge of figuring out what many AI products actually do. If you work with 1099s, W-9s, AP compliance, or information reporting in any form, this episode provides a candid look at what your peers are thinking — and worrying about — right now. Sponsored by IOFM, the Institute of Finance & Management. #1099 #AccountsPayable #AP #InformationReporting #IOFM #TaxCompliance #IRIS #ArtificialIntelligence #Finance #1099Guy

Episode 27: Ask the Experts, Volume 2

It's another Ask the Experts feature. The questions addressed this time: --What if you have to re-issue a check to the payee because they lost it, and it's the next year? Do you need to correct anything or issue new 1099s? --Is a collection agency associated with a medical facility providing a "medical service" reportable on 1099-MISC (box 6) --Is a non-cash amount, such as a book, given to a contractor considered contract labor? --How do you handle a legal settlement where interest payments are involved? As always, we are sponsored by IOFM, the Institute of Finance and Management. www.iofm.com

Episode 26: Latest W-9 Draft -- IRS Reverses Course on Sole Proprietor EIN Rule

The IRS has released a new draft of Form W-9—and this one brings welcome relief for accounts payable teams. In this episode, Jason breaks down the May 4 draft update and explains why the IRS’s decision to remove the proposed restriction on sole proprietors using EINs is a big deal. That controversial change would have created a massive compliance burden, forcing companies to re-solicit W-9s and revalidate vendor records at scale. For now, that headache is off the table. Jason also walks through what did change in the draft, including: *  A new backup withholding exemption code tied to broker and Form 1099-DA reporting  *  Updated (and much clearer) language around TIN reporting—specifically reinforcing that disregarded entity EINs should not be used  Even though the EIN restriction is gone, the IRS is making its expectations more explicit—and that has real implications for how W-9s are completed and reviewed. As always, this is still a draft. Jason closes with practical guidance on what AP professionals should be doing right now (hint: keep using the March 2024 version). If you deal with W-9s, vendor onboarding, or 1099 compliance, this is a must-listen update.

Episode 25: E-Delivery Rules for 1099s: Why Emailing PDFs Isn’t So Simple

This week on Information Return Intelligence, we break down one of the most overlooked areas of 1099 compliance: electronic delivery to recipients. Most organizations are used to thinking about e-filing with the IRS—but what about actually getting the form to the recipient? If you’re emailing PDFs of 1099s (and let’s be honest, most people are), there’s a good chance you’re not fully compliant with IRS rules. In this episode, Jason walks through: Why 1099 e-delivery rules are tied to W-2 regulations What the IRS actually says about furnishing statements electronically The three key requirements: consent, format, and notification Why a simple “sure, email it to me” isn’t enough How major e-filing platforms handle compliance (and why it matters) The real-world risk of ignoring these rules—even if “everyone else is doing it” The takeaway? This isn’t a gray area. The rules exist, they’re detailed, and they’re enforceable—even if they’re widely ignored. If your current process involves emailing 1099 PDFs without a formal consent workflow, this episode will make you rethink that approach. Key Topics Covered IRS Publication 1099 and electronic furnishing rules Reg. §31.6051-1 and its application to 1099s Recipient consent requirements (and why they’re more complex than expected) Substitute statement formatting (Pub. 1179) Website posting and notification requirements Practical compliance strategies for AP teams and tax professionals Who Should Listen Accounts Payable professionals Tax practitioners and accountants Anyone responsible for issuing Forms 1099 or W-2 Organizations using (or considering) electronic delivery methods About the Show Information Return Intelligence is a fast-moving weekly podcast focused on Forms 1099, W-9, 1042-S, and everything in the world of information reporting—brought to you by IOFM.

Episode 24: Treasury Department Seeks Public Input on Easing E-Delivery Rules

This week on Information Return Intelligence, Jason Dinesen breaks down a developing story from the Treasury Department and IRS that could significantly impact how organizations deliver 1099s—and other information returns—to recipients. The Treasury has issued proposed regulations to simplify electronic delivery (eDelivery) for Form 1099-DA (digital assets), while the IRS is simultaneously requesting public comments on expanding those changes to other forms, including Form 1099-B—and potentially all 1099s. But here’s the bigger issue: Most organizations don’t realize that emailing a PDF of a 1099 isn’t automatically compliant. Jason walks through: What “eDelivery” actually means under current IRS regulations The often-overlooked consent requirements Why the rules are considered “draconian” What changes may be coming—and why they matter even if you don’t issue 1099-DA or 1099-B 📅 Public comments are open until May 23—this could be the beginning of major changes to how information returns are delivered. 👉 Next week: A deeper dive into the actual compliance requirements and what organizations should (and shouldn’t) be doing today. Sponsored by IOFM (Institute of Finance & Management) Learn more: https://www.iofm.com