Handling 1099 Backup Withholding in MS Dynamics SL 2015
One of the issues with 1099s is that if a vendor doesn’t provide a tax identification number (TIN), it’s your responsibility to withhold a percentage of any payments due. Microsoft Dynamics SL 2011 and previous versions don’t have built-in functionality to deal with this situation, so users of the older software have to manually keep track of whose information is missing and make sure that the appropriate amounts are being withheld. Failure to comply with the IRS withholding rules may result in a $100 penalty for each incorrect or incomplete 1099-MISC form. Beginning with Microsoft Dynamics SL 2015, handling backup [...]









