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Deciphering Source of Income: How to Determine Domestic Income vs Foreign Source Income?
We explore the factors that determine “source of income” and shine a light on the IRS rules that differentiate U.S. and foreign source income.
Staying on Top of 2023’s Must-Know IRS Regulation Changes: The Trolley Solution
11/22/2023 update: The IRS has announced another delay of its Form 1099-K threshold changes. For calendar year 2023, with reporting due in January 2024, the reporting threshold
From Manual to Magic: How to Automate & Transform Your Accounts Payable Workflow
Learn the benefits and challenges of automating AP processes, as well as what to look for when implementing improvements to your AP workflow.
Understanding ACH: A Step-By-Step Guide to Sending ACH Payments
This blog covers the steps for sending ACH payments, from collecting necessary information to selecting a payout partner.
Non-EU Resident Platforms: What Does DAC7 Mean for You?
With expert insights, this blog outlines how non-EU based online marketplaces are affected by the new DAC7 tax regulations.
Unraveling the Mystery of DAC7: Who is “In Scope” of DAC7?
Does DAC7 affect your company? Gain clarity on the directive’s scope and learn how to navigate its implications for your business.
How Safe is Your Online Marketplace? Get INFORMed About the USA’s New Anti-Fraud Laws
Discover the impact of the new INFORM Consumers Act on online marketplaces, with our insights into the future of eCommerce.
Inside DAC7: The EU’s Newest Tax Directive & Its Implementation Status [Updated: July 2023]
The EU’s newest tax directive, DAC7, which applies as of 1 January 2023, imposes new obligations on online marketplaces that have sellers based in the EU.
DAC7: Is Your Online Platform Ready for the EU’s New Tax Rule?
DAC7, the EU’s newest tax directive: Its obligations on online marketplaces, the penalties, and how it can impact your business.
IRS Form 1042-S: Reporting & withholding for foreign contractors
Foreigners who earn income in the U.S. or from a U.S. company need to report and pay taxes on those payments. Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding, is an IRS form that belongs to the 1042 series of forms.
Working with foreign contractors: What is IRS Form W-8 BEN?
it’s essential to understand the tax nuances related to outsourced work. Obtaining complete W-8 BEN forms is your first step in ensuring that your tax process is compliant for all foreign contractors.
What is IRS Form 1099-MISC? Do I Need to File 1099-MISC Anymore?
Unlike many of the other 1099 forms that have specific purposes, the 1099-MISC form is a sort of “catch-all” form that is used for businesses to report all other payments and incomes
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