IRS Payee Entry
Overview of IRS03
The Payee Entry/Update screen allows you to search for existing payee records and modify their information (if needed). You can also add new payees, or delete payees that are no longer needed.
Traditionally, the payee information should have been loaded into the IRS system when your organization completed year end processing. The following reports allow you to update the IRS system:
- IL276 - Generate 1099 Statements
- IL272 - Generate 1099R Statements
- IL273 - Generate 5498 Statements
- IL445 - 1098 Mortgage Interest Statements
- AP34 - Vendor Listing by 1099 Type
NOTE: UMDF utilizes IL332 - Investment Interest Statements in place of IL276 to load IRS payee information.
If these reports were not run at year end, or they were generated but the IRS information was not updated, you can generate them again to load the IRS information. Once the information is loaded, you can use the Payee Update to modify records as needed.
- From the DDI Connect main menu, double-click IRS Reporting System
- Double-click Payee Entry. You will see this screen:
To locate a payee, you must at MINIMUM enter the tax year and form code. The form code selection dictates what you see at the bottom of the screen.
You have the following fields available to you on the top portion of the screen:
| Field | Description |
|---|---|
| Tax year | Enter the tax year that you are wishing to review for the payee. This field is required |
| Name 1 | If desired, you can type the payee name to search |
| Form code | Type the form code or click the list icon to select from a list of forms configured in the system. This field is required |
| Name 2 | If desired, type the Name 2 information |
| Payee number | If you know the payee number, type it here to search. Leave the field blank if you do not know the payee number |
| City | Type the city if desired |
| Tax ID | Enter the payee's Tax ID, if known |
| State | Type the state abbreviation or click the list icon to select from a list of state codes in the system |
| ZIP | Type the ZIP you are wishing to search for, if applicable |
| Control name | The control name is typically the first four letters of the payee's last name. Multiple payees can have the same control name |
| AI Code(s) | If you wish to search for records having one or more AI codes on their record, type the code or codes, separated by commas, or click the list icon to select from a list of AI codes configured in the system |
| Account code | The account code is a combination of the master account number and -Reportable. If you know the account code, you can enter it. Leave it blank otherwise |
When you have entered your search parameters, click the Search icon on the toolbar. If your search results in records, you will see a screen similar to this one:
When you have located the payee you wish to work with, you can either double-click the payee record or click once to highlight and then click Edit. The screen is now active for you to modify:
On the General tab, you can change payee information such as the name, address, or AI codes. The box tabs will differ by form, but you can click a tab and modify information such as Interest Income, Federal Income tax withheld, etc.
When you have finished modifying the information, click Save to retain your changes.
