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Picture this: An enterprise with 15,000 active vendors misses annual W-9 re-solicitations for 800 vendors over two years. When the IRS issues a 972CG penalty notice proposing more than $2 million in information return penalties, the legal team discovers there is no central solicitation history; just informal email trails scattered across different AP mailboxes. The…

When a pension administrator codes a 65-year-old retiree’s distribution as Code 2 instead of Code 7, the IRS reads it as an early distribution with an exception applied. At enterprise scale, that single error replicated across 500 forms triggers hundreds of recipient notices and a months-long correction project. This guide is written for plan administrators,…

Learn how the IRS transition from FIRE to IRIS impacts 1099 filing and what businesses must do to prepare for the new system.