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Federal. Reportable to the United States Internal Revenue Service for 1099 purposes. In the United States, you must report to the Internal Revenue Service certain types of payments you make to 1099 reportable suppliers.

Refer to federal tax publications for more information regarding 1099 reporting requirements.

Income Tax Type. Income tax type for a United States 1099 reportable supplier. You can choose from a list of 1099 Miscellaneous Tax types. Defaults from supplier to supplier site, and from supplier site to invoice distributions. You can override this default during supplier site entry and invoice entry. Purchasing also retains the Income Tax Type at the purchase order line level for a supplier's purchase orders.

Reporting Name. Tax reporting name for a supplier subject to United States Internal Revenue Service (IRS) income tax reporting requirements. Required only if the tax reporting name for the supplier is different from the supplier name. In accordance with IRS requirements, Payables prints this name, instead of the supplier name, on all 1099 reports for the supplier.

For example, you define a supplier for a consulting firm owned and operated by a single individual. You enter the name of the company as the supplier name; however, the tax reporting name for the company is the name of the individual. The IRS levies penalties against a supplier that submits 1099 information with any name other than the tax reporting name for the supplier. By entering the individual's name as the tax reporting name, you produce 1099 information for the supplier that complies with the IRS requirements.

Reporting Site. Payables displays the income tax reporting site for the supplier if you have already defined a supplier site as the tax reporting site in the Supplier Site Tax Reporting Region.

You can choose only one supplier site as the income tax reporting site for a supplier. Payables requires a tax reporting site for each 1099 supplier for income tax reporting purposes. Payables warns you that you have not selected a tax reporting site for this 1099 supplier.

State. If you participate in the United States Internal Revenue Service Combined Filing Program, enable if a supplier is reportable to a state taxing authority. Payables uses this status for reporting purposes only. By marking a supplier as State Reportable, you can create custom reports that satisfy a tax authority's reporting requirements. Refer to state tax publications to obtain information regarding 1099 reporting requirements.

Verification Date. Date you received tax verification from the supplier. In Payables you can submit Tax Information Verification Letters for your suppliers. Payables prevents the generation of any further letters to a supplier after the Verification Date.

Name Control. The first four characters of the last name of your 1099 supplier. Payables displays the four character Name Control you enter here when you create your 1099 Tape for federally reportable suppliers. If you do not enter any values in the Name Control field, Payables does not print in the four positions designated for the Name Control information in this supplier's B record when you create your 1099 Tape.

Organization Type. Type of organization for this supplier. The United States Internal Revenue Service (IRS) requires this information if you use magnetic media to file your 1099 tax information.

• Corporation

• Government Agency

• Individual

• Partnership

• Foreign Corporation

• Foreign Government Agency

• Foreign Individual

• Foreign Partnership

See Also

Tax Names

1099 Reporting Overview

Entering Invoices for Suppliers Subject to Income Tax Reporting Requirements

Supplier Restrictions

Tax Reporting Region of the Supplier Sites window

Tax Registration Num. Tax registration number, for example, a supplier's value-added tax (VAT) registration number.