One thing that we can say for certain is that the changes that we are seeing now are only the start of many more changes to come. The addition to new reporting requirements on corporations in order to shore up enforcement of taxes at the state and local level is only just now beginning to start, and the time to implement changes to support those requirements is getting shorter every day.

Most everyone with a large number of clients or vendors that need a 1099 each year has been handling the process using a legacy host-based system (learn more about these systems by clicking here and downloading our free whitepaper). During the 1980’s, when 1099 reporting responsibilities increased, these types of internally developed or managed systems were the only solutions capable of handling the processing volume.

Will the IRS hold you liable for non-compliance? If your organization is not properly reporting Non-Resident Alien (i.e., non-U.S. citizen) income information, it could happen. Join Convey Compliance and Cyrus Daftary, a respected attorney and tax professional, on Monday, December 14, 1:00 p.m. Central Standard Time, for a 60-minute webinar to address this topic and surrounding issues.