EAP WTHD20: Will IRS Form 1098-F Fines, Penalties and Other Amounts be Addressed in PeopleSoft?
(Doc ID 2794727.1)
Last updated on FEBRUARY 21, 2023
Applies to:PeopleSoft Enterprise FIN Payables - Version 9.2 and later
Information in this document applies to any platform.
IRS has a new requirement - Local Government Reporting of Fines and Penalties, FORM 1098-F Reporting under Internal Revenue Code Section 6050X.
Please see information from IRS website - https://www.irs.gov/forms-pubs/about-form-1098-f about Form 1098-F, fines penalties, and other amounts.
A government or governmental entity and certain nongovernmental entities must file this form required by section 6050X, to report certain fines, penalties, and other amounts paid.
Will IRS form 1098-F, Fines, Penalties and Other amounts be addressed in PeopleSoft?
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