APChannel Newsletter

September 7, 2011

In this Issue
Editor's Note "B" Notice Changes "B" Notice Process Continuing Education Just for Fun!

Complete invoices with no paper and just a few clicks.

Virtual Conference
Bring Your Whole Staff at No Extra Cost!
Accounts Payable Productivity Summit 2011
Wednesday, September 21
Noon - 4:00 PM Eastern Time
Thursday, September 22
Noon - 4:15 PM Eastern Time
Earns up to 7.5 CEUs and 7 CPEs

AP Conference
IOMA 10th Annual Accounts Payable 2011 Conference & Expo
October 20 – 21, 2011
The Bellagio Hotel • Las Vegas, NV
Qualifies for 21.9 CPEs

AP Certification - The Standard of Excellence for Accounts Payable Professionals

"B" Notice Changes: Were you aware?
Next month the IRS will start sending "B" notices to organizations whose vendors provided inaccurate name/TIN combinations. You must then follow specific procedures for collecting the correct information, some of which have changed in recent years. This issue features a brief description of these changes, as well as additional information on responding to IRS "B" notices.
Patrick Harbin – Editor

Changes to Second "B" Notice

While the rules for responding to an initial "B" notice remain unchanged, remember that payees who receive a second notice have a new process for verifying their TINs with the Social Security Administration.

See Verifying Social Security Numbers: Second "B" Notice on TAPC.

"B" Notice Process

Despite the aforementioned rule change, the basic "B" notice process still applies. The following is a breakdown of what you should do when you receive a payee's first "B" notice:

1) Send the notice, form W-9, and optional envelope to the payee within 15 business days.

2) Ensure the date, account number, and backup withholding rate are on the notice before mailing it.

3) You must begin backup withholding if you do not receive corrected information within 30 days. You may begin backup withholding the day after you receive the notice.

4) Update your records once you receive the corrected W-9. Do not send the W-9 to the IRS.

Be sure to sign up for the upcoming audio conference, Reduce Your Exposure for B-Notices and TIN Penalty Notices, featuring John Foertschbeck, CPA, and Lynda Foertschbeck, with IRSCompliance, Inc., on Wednesday, Sept. 14, 2011 at 2:00pm Eastern. Earns 1.5 CEUs and CPEs.

Just for Fun!

Do you stress over the content of your "out-of-office" email whenever you go out of town? One business traveler believes he has a solution. See The Best Out-of-Office Email Ever Written.

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