Description:

Tax season can overwhelm AP teams, but with the right preparation, the process becomes manageable. This course provides a practical roadmap for distributing and filing 1099s and 1042s in tax year 2025. We’ll break down a five-step approach, starting with identifying reportable vendors early, ensuring smooth forms distribution, and completing filings accurately and on time. The session also covers how to manage vendor inquiries, handle returned or incorrect recipient forms and reduce the risk of IRS penalties through proactive planning. By the end, participants will be ready to guide their AP teams through tax season with confidence. 

Agenda: 

• Step 1: Determine reportable vendors early 

• Step 2: Plan and execute forms distribution 

• Step 3: Complete IRS filings on time 

• Step 4: Respond effectively to vendor inquiries 

• Step 5: Manage returned or incorrect forms 

What You’ll Learn: 

• Identify reportable vendors and collect the right data early 

• Plan and execute timely distribution of 1099/1042 forms 

• File with accuracy to minimize IRS penalties 

• Manage vendor questions and corrections effectively 

• Build a repeatable framework to prepare for future tax years 

Audience: 

AP teams, tax compliance staff, vendor data managers, finance professionals.