The recently enacted healthcare law imposes surprising new Form 1099 reporting requirements. While they do not apply to payments made before 2012, it is best to start your preparation early. Any payments/compensation paid to a single recipient in the amount of $600 or more will require the issuance of a Form 1099.
So, by now you are probably asking yourself why is this being reported in InfoEdge? If you fail to obtain a vendor’s TIN (taxpayer identification number) you may have to institute backup federal income tax withholding on payments made to them, which is clearly a position InfoEd does not want to be in and we want you to have our TIN readily available should the need arise.
With this being said, if your institution does not have a signed Form W-9 from InfoEd on file, please notify Michael Greenfield, Director of Finance as soon as possible to make arrangements to have one sent to you. Michael’s email is firstname.lastname@example.org.