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Every year the University of Oregon sends an IRS 1099-Misc form to each vendor that has provided the university with tax reportable services. The 1099 includes the dollar value of services provided during the tax year. The 1099 is not issued for commodity purchases. In some cases corporations are exempt from 1099 reporting.
It is particularly important to use the appropriate tax reportable account code when creating FIS invoices to pay for services from a vendor. All UO vendor payments for services are tax reportable for that vendor. Our system must reflect accurate coding of tax reportable payments so that we may submit our year-end 1099 report to the IRS. In the State of Oregon's FASOM - Service Codes web reference pages, these codes will say (tax reportable) next to their description. You should always use a tax reportable account code when paying for services.