KPMG report: Accelerating Form 1099 deadlines, prioritizing taxpayer efficiency
Reasons for change and administrative issues that payors will need to address
Reasons for change and administrative issues that payors will need to address
The “Green Book”—released in March 2024—reintroduced a proposal to accelerate Form 1099 deadlines by two months. Per the Green Book, the proposal would help the IRS detect fraud and foster taxpayer compliance. However, the new deadlines will require taxpayers to update due diligence processes to avoid drowning in year-end filing obligations.
Read a May 2024 report prepared by KPMG LLP that discusses the reasons for the change and administrative issues that payors will need to address.
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