EAP WTHD: 1099 Process is Not Generating the IRS File for the Vendor With Combined Amount of $600 or More
(Doc ID 763575.1)
Last updated on JULY 11, 2022
Applies to:PeopleSoft Enterprise FIN Payables - Version 8.8 SP1 to 9.2 [Release 8.8 to 9]
Information in this document applies to any platform.
The 1099 process should pick up a Withholding Vendor if one Class amount is less than $600 but when combined with other Classes, exceeds $600.
Vendor's reportable Withholding Amount for Class 07 is $100 and Class 01 is $510. Each Class is less than $600 but when both Classes are combined together, the Vendor has more than $600.
If the Vendor has the box for "Direct Sales of $5000 or More" checked on the Vendor > Location > Global/1099 Withholding hyperlink > Withholding Vendor Information page, then this Vendor is picked up for the 1099 process. If box is not checked, the Vendor is not picked during the 1099 process.
To view full details, sign in with your My Oracle Support account.
Don't have a My Oracle Support account? Click to get started!
In this Document