Tax & Accounting Blog

The Social Security Administration is Getting Serious About Your Bad Data

The Social Security Administration is Getting Serious About Your Bad Data

1099, Blog, ONESOURCE August 10, 2018

The Social Security Administration (SSA) recently announced that they will begin something that they have been threatening about for years. The SSA obviously wants and needs accurate data like properly spelled names and correct Social Security Numbers (SSN). So, they have announced that they will begin mailing Employer Correction Request Notices (EDCOR) (I’m just not … Read More

What a New IRS Change to Form 1098-T Means for Colleges and Students

What a New IRS Change to Form 1098-T Means for Colleges and Students

Among the changes that the IRS has decided to make for 2017 tax year is a change to Form 1098-T, an important record for educational institutions such as universities as well as for their students. Eligible educational institutions file Form 1098-T for each student they enroll and for whom a reportable transaction is made. They … Read More