Putting the AP in hAPpy
A weekly podcast providing fraud prevention and vendor setup training to protect the vendor master file. Immediate takeaways with actionable steps you can implement today into your vendor onboarding and maintenance process to reduce fraud and regulatory fines. Great tips for the Accounts Payable and Procurement teams to clean-up their vendor data, clean-up their vendor processes so that they can pay the right vendor.
Putting the AP in hAPpy
Episode 373: TY 2025 Handling Corrections For IRS Forms 1099-NEC, 1099-MISC and 1042-S
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Congrats! You made the deadline for sending 1099-NEC and 1099-MISC recipient statements to your vendors and the related IRS tax filing deadline for the 1099-NEC. Then your phone starts ringing with vendors, and now you have corrections to what you reported. Or your organization has multiple entities and you realized income was reported for vendors using the wrong organization. Or that file in IRIS or FIRE has an error status…. Now what?
Keep listening.
Check out my website www.debrarrichardson.com if you need help implementing authentication techniques, internal controls, and best practices to reduce the potential for fraudulent payments, compliance fines or bad vendor data. Check out the Vendor Process Training Center for 173+ hours of weekly live and on-demand training for the Vendor team.
Links mentioned in the podcast + other helpful resources:
- IRS Publications:
- IRIS: Publication 5717 (Rev. 1-2026) https://www.irs.gov/pub/irs-pdf/p5717.pdf
- FIRE: Publication 1220 (Rev. 9-2025) https://www.irs.gov/pub/irs-pdf/p1220.pdf
- FIRE (1042-S): Publication 1187 (Rev. 9-2025) https://www.irs.gov/pub/irs-pdf/p1187.pdf
- IRS Page: Information Return Penalty Chart https://www.irs.gov/payments/information-return-penalties
- Customized Vendor Validations Session: https://debrarrichardson.com/vendor-validation-session
- Free Download: Vendor Validation Reference List with Resource Links https://debrarrichardson.com/vendor-validation-download
- Vendor Process Training Center - https://training.debrarrichardson.com
- Customized Fraud Training: https://training.debrarrichardson.com/customized-fraud-training
- Free Live and On-Demand Webinars: https://training.debrarrichardson.com/webinars
- Vendor Master File Clean-Up: https://www.debrarrichardson.com/cleanup
- YouTube Channel: https://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiw
- More Podcasts/Blogs/Webinars www.debrarrichardson.com
- More ideas? Email me at debra@debrarrichardson.com
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