Problems with Decentralized Process

Q: We have several departments responsible for their own payments and 1099s, but they never seem to get their data cleaned up. As a result, we end up with B-Notices that I have to deal with.

A: ONESOURCE 1099 allows a central group, such as Shared Services or Tax to take control of what goes to the payee and the IRS. As payee information gets cleaned up (we recommend the IRS Bulk TIN Matching process coupled with W-9 solicitations), it can be locked down in ONESOURCE 1099 so that the same bad data supplied from the other departments does not overwrite what you've already corrected. You'll see your B-Notice work reduced and take control of the accuracy of the 1099 statements and IRS filings.