Tax Resources for Accountants and Small Businesses (U.S.)
“Uh-oh.” You say to yourself as you are shuffling through the daily mail—a notice from the Internal Revenue Service (IRS). You haven’t even opened the letter, but a blanket of fear drapes over you. ...
You received one or more of these letters and notices because you may have underreported your gross receipts. This is based on your tax return and Form(s) 1099-K, Payment/Merchant Cards and Third Party Network...
Why you are receiving this notice? Your name and taxpayer identification number (TIN) submitted on Form 1099-K,Payment Card and Third Party Network Transactions, by a payment card processor or third-party settlement organization does not...
Internal Revenue Bulletin: 2013-39 – Notice 2013-56 Transitional Penalty Relief and Schedule for Notices of Incorrect Name/TIN Combinations for Information Returns Relating to Payment Card and Third Party Network Transactions Notice 2013- 56 provides...
Second B Notice IMPORTANT TA X NOTICE ACTION IS REQUIRED Second Backup Withholding Warning! YOU MUST HAVE THE IRS OR SSA VALIDATE YOUR TAXPAYER IDENTIFICATION NUMBER AND RETURN IT TO US: ________________________________. Otherwise, backup...
First B Notice IMPORTANT TA X NOTICE ACTION IS REQUIRED Backup Withholding Warning! We need a Form W-9 from you before: _______________________. Otherwise; backup withholding will begin on Account Number Current Name on Account...
Here is link to IRS Publication 1281 – which covers Backup Withholding for Missing and Incorrect Name/TINs. TABLE OF CONTENTS Part 1- Introduction • Backup Withholding Rate/Effective Dates 3 Part 2 – Frequently Asked...
A “B” Notice is a backup withholding notice. There are two “B” Notices — the First “B” Notice and the Second “B” Notice. You must send the First “B” Notice and a Form W-9...