IRS Payer Setup
Overview of IRS07
With regard to the IRS, the Payer is the organization that paid the interest to the payees. At least one Payer must be set up in order to generate reports from the IRS Reporting System.
- From the DDI Connect main menu, double-click IRS Reporting System
- Double-click Setup
- Double-click Payer Setup. You will see a screen similar to this one:
To add a new Payer record, click the New button on the toolbar. The fields will now enable for editing:
You have the following fields available:
Field | Description |
---|---|
Tax ID | Enter the Tax ID for the payer. This is a required field |
Combined filer? | If your organization participates in the Combined Federal/State Filing Program, select this box. If not, leave it unchecked |
Name 1 | Your organization's name |
Filed last year? | If you filed last year, select this box |
Name 2 | If your organization is a transfer agent, then Name 2 should be the transfer agent's name |
Transfer agent? | Example |
Address | Example |
City | Example |
State | Example |
Zip | Example |
Contact phone | Example |
Control name | Example |