Information Return Intelligence

Jason Dinesen

Your weekly briefing on 1099s, 1042-S, and everything related to information forms.

  1. قبل ٦ ساعات

    Episode 38: Correction Deadline Approaching to Avoid Penalties

    Every year, there's a little-known deadline that can save 1099 filers from costly IRS penalties. In this episode of Information Return Intelligence, Jason explains why August 3, 2026 (normally August 1) is such an important date for correcting information returns.  Learn how the IRS treats errors on timely filed forms, how many corrections you can make without penalty, and which mistakes don't require correction at all. Jason also discusses the de minimis error rules, why intentional disregard can dramatically increase penalties, and why it's still important to file corrections even after the August deadline has passed.  The episode also covers an emerging issue for organizations that filed through FIRE this year and may need to submit corrections after the system is retired at the end of 2026.  Topics include:   The August 3 correction deadline for 2026  The "greater of 10 or 0.5%" penalty relief rule  De minimis dollar amount exceptions  Errors that do—and do not—require correction  How IRS computer matching affects correction requirements  Why intentional disregard penalties are so severe  Filing corrections through the same system as the original return  What FIRE users should watch for as the transition to IRIS continues  Whether you filed six Forms 1099 or sixty thousand, this episode will help you understand when corrections matter—and how to minimize your penalty exposure before time runs out.

  2. ٢١ يوليو

    Episode 37: Ask the Expert, Volume 4

    Have a tricky 1099 question? You're not alone. In this fourth installment of our Ask the Expert series, Jason Dinesen answers real-world questions submitted by accounts payable and tax professionals. These are the kinds of scenarios that don't always have obvious answers—but they're exactly the situations finance teams encounter every day. This episode covers: When credit card payments shift reporting from Form 1099 to Form 1099-K—and why the same rule doesn't apply to Form 1042-SWhether payments to attorneys and law firms remain reportable even when they're corporationsWhether asphalt and concrete recycling fees are reportable on Form 1099-NECReimbursements involving faculty members, landlords, and university reporting obligationsReporting taxable legal settlements when proceeds must be allocated among multiple claimantsWhy telephone and internet services generally aren't reportable on Form 1099Whether you can issue multiple Forms 1099-NEC to the same recipient—and how the account number field makes it possibleWhether you're new to information reporting or you've been handling Forms 1099 for years, these practical questions highlight the nuances that matter when applying the rules in the real world. If you have a question you'd like featured in a future Ask the Expert episode, be sure to submit it through IOFM or send it our way. Information Return Intelligence is powered by IOFM and brings you weekly updates, practical guidance, and expert analysis on Forms 1099, Form 1042-S, backup withholding, IRS developments, and the ever-changing world of information reporting. Subscribe for new episodes every week.

  3. ١٤ يوليو

    Episode 36: New Online EIN Verification and Second B Notices — Can You Use It?

    The IRS has introduced a new feature that allows businesses to instantly download verification of their Employer Identification Number (EIN) through their online Business Tax Account. It's a welcome improvement—but does it satisfy the documentation requirements for a second B Notice after receiving a CP2100?  In this episode of Information Return Intelligence, Jason Dinesen examines the new online EIN verification process, explains how the CP2100 and B Notice procedures work, and answers the practical question that information reporting professionals are already asking: Can this new online verification replace IRS Letter 147C?  Drawing on Publication 1281, Revenue Procedure 93-37, Notice 91-40, and the Internal Revenue Manual, Jason walks through why the current guidance still points to Letter 147C as the required documentation for second B Notice purposes. While the IRS's announcement says the online verification can be used in place of a 147C in some situations, the existing B Notice guidance has not yet been updated.  In this episode:   How CP2100 notices and B Notices fit into the information reporting process  The difference between first and second B Notices  What the new online EIN verification document actually is  Why a CP575 is not the same as a Letter 147C  What current IRS guidance says about acceptable EIN verification  Practical recommendations while waiting for additional IRS clarification before the next CP2100 season  If your organization files Forms 1099 or manages vendor compliance, this episode will help you understand the issue before the next round of CP2100 notices arrives this fall.   Information Return Intelligence is powered by IOFM and brings you practical guidance on Forms 1099, W-9s, backup withholding, Form 1042-S, IRS developments, and other information reporting topics each week.

  4. ٧ يوليو

    Episode 35 -- Second Quarter Form 1099 Roundup

    Q2 2026 Roundup: W-9 Drafts, Backup Withholding, IRIS Updates & More The second quarter of 2026 brought a surprising number of developments in the information reporting world, and in this episode of Information Return Intelligence, Jason Dinesen breaks down the biggest stories that matter to 1099 professionals. Topics include the latest draft Form W-9 and the IRS's reversal on the proposed EIN restriction for sole proprietors, proposed regulations updating backup withholding thresholds, revisions to Forms 1099-NEC and 1099-MISC, and a quiet but important expansion of the IRIS Taxpayer Portal from 100 to 250 forms per upload. Jason also covers Treasury's proposed changes to electronic delivery rules, the potential implications of the Kwong case for certain tax penalties, and reflects on key themes that emerged from conversations with practitioners at the IOFM Spring Conference in Orlando. Whether you issue information returns, advise clients, or simply want to stay current on IRS developments, this quarterly roundup provides a practical overview of the most important news from April through June. In this episode: Draft Form W-9 updates and what changed (prior episode: https://podcasts.dinesenmedia.com/show/information-return-intelligence-1/latest-w-9-draft-irs-reverses-course-on-sole-proprietor-ein-rule/) Backup withholding proposed regulations (prior episode: https://podcasts.dinesenmedia.com/show/information-return-intelligence-1/treasury-aligns-backup-withholding-with-new-1099-reporting-thresholds/) New reporting boxes on Forms 1099-NEC and 1099-MISC (prior episode: https://podcasts.dinesenmedia.com/show/information-return-intelligence-1/irs-releases-2026-version-of-1099-nec-and-1099-misc/) IRIS Taxpayer Portal expands to 250-form uploads Treasury's proposed electronic delivery regulations (two prior episodes: https://podcasts.dinesenmedia.com/show/information-return-intelligence-1/treasury-department-seeks-public-input-on-easing-e-delivery-rules/ and https://podcasts.dinesenmedia.com/show/information-return-intelligence-1/e-delivery-rules-for-1099s-why-emailing-pdfs-isnt-so-simple/) The Kwong decision and why July 10 matters (prior episode: https://podcasts.dinesenmedia.com/show/information-return-intelligence-1/the-kwong-case-a-big-tax-deal-but-what-about-information-returns/) Takeaways from the IOFM Spring Conference (prior episode: https://podcasts.dinesenmedia.com/show/information-return-intelligence-1/iofm-conference-takeaways-anxiety-complexity-and-ai/) Subscribe for weekly updates covering Forms 1099, 1042-S, W-9, backup withholding, IRS guidance, and other information reporting developments.

  5. ٣٠ يونيو

    Episode 34: Form 1099-K, Part 2 -- Why the $600 Threshold Was Reversed

    Why did Congress try to lower the Form 1099-K reporting threshold to $600—and why did it eventually reverse course? In Part 2 of our Form 1099-K series (find Part 1 here:  https://youtu.be/NDv7rk0m6Ws), Jason Dinesen examines the reasoning behind the proposed change, the practical problems it created, and why Congress ultimately restored the original reporting thresholds. Topics include: The history of Form 1099-K The American Rescue Plan Common misconceptions about Venmo reporting IRS enforcement challenges Why more information reporting isn't always better ▶️ Subscribe for weekly updates on Forms 1099, 1042-S, W-9, backup withholding, and other information reporting topics. Learn more: 🌐 https://podcasts.dinesenmedia.com Powered by IOFM -- www.iofm.com

  6. ٣٠ يونيو

    Episode 34: Form 1099-K, Part 2 -- Why the $600 Threshold Was Reversed

    Why did Congress try to lower the Form 1099-K reporting threshold to $600—and why did it eventually reverse course? In Part 2 of our Form 1099-K series (find Part 1 here:  https://youtu.be/NDv7rk0m6Ws), Jason Dinesen examines the reasoning behind the proposed change, the practical problems it created, and why Congress ultimately restored the original reporting thresholds. Topics include: The history of Form 1099-K The American Rescue Plan Common misconceptions about Venmo reporting IRS enforcement challenges Why more information reporting isn't always better ▶️ Subscribe for weekly updates on Forms 1099, 1042-S, W-9, backup withholding, and other information reporting topics. Learn more: 🌐 https://podcasts.dinesenmedia.com Powered by IOFM -- www.iofm.com

  7. ٣٠ يونيو

    Episode 34: Form 1099-K, Part 2 -- Why the $600 Threshold Was Reversed

    In Part 2 of our three-part series on Form 1099-K, we move beyond the mechanics of the form and examine one of the biggest controversies in information reporting: the proposal to lower the Form 1099-K reporting threshold to just $600. Find Part 1 here. Why did Congress originally push for the change? What was it hoping to accomplish? And why did lawmakers ultimately reverse course and restore the original $20,000 and 200-transaction threshold? In this episode, Jason explores the policy goals behind the proposal, addresses several common misconceptions—including the myth that the IRS was "coming for everyone's Venmo transactions"—and discusses two major practical problems that ultimately undermined the lower threshold:  Whether reporting thousands of very small businesses would meaningfully increase tax revenue.  Whether the IRS could realistically process and enforce compliance on an estimated 33 million Forms 1099-K each year. Using real-world examples, this episode looks at the balance between increased reporting, taxpayer compliance, and the realities of tax administration. This is Part 2 of our ongoing Form 1099-K series. Part 1 covers the fundamentals of the form, while Part 3 will bring the discussion back to what accounts payable departments, businesses, and information return filers need to know today. In this episode  The history of the Form 1099-K reporting thresholds  Why Congress proposed a $600 threshold  The American Rescue Plan and subsequent legislative changes  Common misconceptions about Venmo and personal payments  Two major criticisms of the lower threshold  IRS workload projections and enforcement challenges  Why more reporting does not always mean better enforcement Information Return Intelligence is powered by the Institute of Finance & Management (IOFM). ▶️ Subscribe for weekly updates on Forms 1099, 1042-S, W-9, backup withholding, and other information reporting topics. Learn more:  🌐 https://podcasts.dinesenmedia.com #1099 #1099K #Tax #IRS #AccountsPayable #InformationReporting #IOFM #GigEconomy

  8. ٢٣ يونيو

    Episode 33: IRS Releases 2026 Version of 1099-NEC and 1099-MISC

    In this episode of Information Return Intelligence, we discuss the recent updates to the 1099 NEC and Miscellaneous forms for 2026. Most of the episode is focused on tips and overtime, and we dive into the implications of these changes, particularly regarding worker classification and the reporting of tips for contractors.

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Your weekly briefing on 1099s, 1042-S, and everything related to information forms.

المعلومات

  • صناع العمل
    Jason Dinesen
  • سنوات النشاط
    ٢٠٢٥ - ٢٠٢٦
  • الحلقات
    ٤٠
  • التقييم
    ملائم
  • حقوق النشر
    © 2026 Dinesen Media Ventures, LLC
  • موقع البرنامج على الويب
    Information Return Intelligence

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