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Agenda Item #: 3Q5 PALM BEACH COUNTY BOARD OF COUNTY COMMISSIONERS AGENDA ITEM SUMMARY Meeting Date: 6/2/15Department: Submitted By: Submitted For:[X] Consent [ ] Ordinance[ ] [ ]Regular Public Warangal
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S I Y I S stands for 'Substitute Information Return for Your Income Statement.'
Businesses and organizations that make certain payments to individuals or entities that are required to report those payments to the IRS are required to file S I Y I S.
To fill out S I Y I S, gather the necessary information about the payee, complete the required fields with accurate data, and submit the form by the specified deadline.
The purpose of S I Y I S is to provide the IRS with information about certain payments made to individuals or entities that may be subject to tax.
Information that must be reported includes the payee's name, address, taxpayer identification number, the amount paid, and the type of payment.
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