IOFM partnered with Avalara to survey financial practitioners, soliciting their opinions on 1099 compliance. In this paper, we’ll provide insights revealed by the data that may help your organization better manage its own W-9 and 1099 compliance challenges.

Gain industry insights

We asked hundreds of accounts payable professionals these pressing questions:

• What are the most challenging aspects of 1099 compliance?

• How many hours does your staff spend each January on 1099 compliance?

• What percentage of vendors submit W-9s containing errors?

• What percentage of your 1099 postal mailings get returned to sender?

• How many backup withholding notices do you receive annually?

• Are you concerned about data breaches associated with sensitive taxpayer information?

• Do you use third-party software to manage compliance?

• How important is it to automatically move W-9 information into 1099s?

   

With this data at your fingertips, you’ll be better equipped to benchmark your own 1099 best practices against the experiences of the wider accounts payable industry.