This report generates the Tax Information Verification Letter, which requests a supplier to furnish or confirm tax information. Payables generates this standard letter for each supplier that meets the criteria you select. Payables does not generate this letter for suppliers with the Type set to Employee in the Suppliers window.
The text of the letter is boilerplate. It states that the Internal Revenue Service requires this tax information, and failure to provide this information will result in your organization withholding a percentage of the supplier's payments. The second page of the letter is a form for the supplier to fill in their name, tax identification number, type of organization, and tax reporting address. The report also includes the following details:
Your company name and address that you defined in the Location window.
The person or department to whom the supplier should return the information. You specify this when you submit the program.
The signature block name and title that you specify when you submit the program.
Any available tax information you have entered for the supplier in the Suppliers window.
You submit this report from the Submit Request window. See: Submitting Standard Reports, Programs, and Listings.
Exclude Corporation Suppliers. Enter Yes if you do not want to generate this letter for suppliers that have an organization type of Corporation in the Tax region of the Suppliers window.
Exclude Inactive Suppliers. Enter Yes if you do not want to generate this letter for suppliers with an inactive date before the beginning of the 1099 reporting year.
Include Only 1099 Suppliers. Enter Yes if you want to generate this letter only for suppliers for whom you have specified an Income Tax Type in the Suppliers window and for whom you have created a 1099 payment.
Exclude Suppliers with TINs. Enter Yes if you want to generate this letter only for suppliers that do not have tax identification numbers (TINs).
Tax Reporting Entity. Your tax reporting entity for which you want to submit the Tax Information Verification Letter. You need to submit the Tax Information Verification Letter report for each tax reporting entity you define for your organization.
Suppliers Verified Prior To. Payables generates a letter only for suppliers with a verification date before the date you enter in this field. You can use this parameter to generate letters for suppliers to confirm that the information you have for them is current.
Form Should Be Returned By. The letter requests that the form be returned by this date.
Name of Letter Sender. Name in the signature block of the letter.
Title of Letter Sender. Title in the signature block of the letter.
Return To Whose Attention. The department to whom you want the supplier to return the form. This department appears with your organization's return address on each letter.
Payer Name Source. The source from which Payables obtains the payer name for your company displayed on this report.
Address. Address line 1 in the Location form.
Location. Location Name entered in the Location form.
Tax Entity. Entity Name entered in the Reporting Entity form.