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It’s been said that no job is finished until the paperwork is done, and that is certainly true for your IRS reporting responsibilities. Borrowers need to know you are complying with all the applicable rules and timelines in this essential operations area. As the end of this tax year approaches, ensure you understand all the guidelines, deadlines, and forms that affect your institution’s IRS reporting requirements.
Whether it is reporting interest earned on deposit accounts or paid on real estate loans, mandatory minimum distributions on IRAs, contractor payments, or declaring a debt canceled, the IRS expects your institution to get it right every time. But what impact do changes in staff, management, business lines, or core processing systems have on your ability to comply with these technical requirements? Is there a way you can save time, effort, and headaches within your IRS reporting compliance program? Can you leverage your data processing system to save time and effort? Join us to learn about the world of IRS reporting and best practices for compliance and efficiency.
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