Accounts Payable

Reminder: End-of-Year Reporting Implications for Redepositing/ Canceling Prior Year AP Checks

December 1, 2022

Redepositing/ Canceling checks issued in a prior calendar year has significant tax compliance and annual reporting implications for a payee and Harvard. If Harvard has already issued an annual tax document (i.e., 1099 or 1042S) to the payee, a redeposit to cancel a check can render that tax document incorrect and require Harvard to send the payee an amended form – which can also be problematic if the payee has already filed their annual returns.... Read more about Reminder: End-of-Year Reporting Implications for Redepositing/ Canceling Prior Year AP Checks

Reminder for Foreign Suppliers that Have No U.S. Presence

November 10, 2022

In order for Harvard to consider income classified as foreign-sourced (i.e., generally, no U.S. presence and not copyright/royalty income), and possibly exempt from tax withholding or reporting, a foreign payee must minimally attest to their foreign status by submitting a valid W-8 as part of Harvard’s supplier registration process. This process does not require a foreign supplier to complete GLACIER.... Read more about Reminder for Foreign Suppliers that Have No U.S. Presence

Service Payments, Speaker Fees/Honoraria, or Reimbursements to Foreign Individuals

November 10, 2022

Foreign individuals performing services in the United States may have restrictions on what is allowable under immigration law based on visa/ immigration and payment type (including honoraria payments). Prior to having individuals perform services for Harvard, departments and faculty must ensure if a payee’s immigration status allows a foreign individual to legally be paid by Harvard.... Read more about Service Payments, Speaker Fees/Honoraria, or Reimbursements to Foreign Individuals

Processing Commencement Prizes

May 12, 2022

Please be vigilant when classifying and selecting object codes when processing an award, prize, fellowship, or grant through B2P. The intended use of the funds and location of activity is the basis when classifying a payment for IRS tax reporting and withholding requirements. Incomplete information or an incorrect classification can affect tax reporting or withholding amounts.... Read more about Processing Commencement Prizes

Virtual 1:1 Appointments with Nonresident Alien (NRA) Tax Compliance to Support Fiscal Year-end and Tax Issues Pertaining to Foreign Payees

April 14, 2022

In anticipation of an increase in B2P payments processed to foreign individuals and foreign entities as we approach the fiscal year-end, and for questions pertaining to any associated tax matters, the NRA Tax Compliance Team would like to encourage the community to schedule Virtual 1:1 appointments as a support resource.... Read more about Virtual 1:1 Appointments with Nonresident Alien (NRA) Tax Compliance to Support Fiscal Year-end and Tax Issues Pertaining to Foreign Payees