- TypeWebinar
- Location Online Event
- Date 01-02-2024
Education/Teaching/Training/Development
Accounting/Financial/Banking/Insurance
Fresher/Trainee/Professionals
OTHERS
OVERVIEW
This webinar will cover the latest updates for Form 1099-NEC and 1099-MISC, specific reporting requirements for various types of payments and payees, filing requirements, withholding requirements, and reporting guidelines. It will cover important changes to the filing due dates and the new safe harbor requirements for de minimis dollar amount errors.
It will also cover penalty provisions and exceptions to the penalties, due diligence procedures, exceptions to penalties including reasonable cause, common errors, and correction of errors.
WHY SHOULD YOU ATTEND?
The changes in reporting requirements can be confusing and the IRS has recently made changes to reporting, error correction, and filing due date requirements. Accounts payable professionals, managers, and withholding agents need to be aware of the changes to avoid non-compliance and penalties.
For non-compliance, penalties have recently been increased. To stay compliant, practitioners must know which form to use to report specific transactions when these forms must be filed or furnished to recipients to be on time, what information should be included and how to make sure it is accurate, how and when to make corrections, how to avoid or mitigate errors, whether a particular payee is subject to backup withholding or transaction reporting, and the due diligence procedures that shield an issuer from penalties, even when the forms contain incorrect information.
LEARNING OBJECTIVES
The learning objectives are as follows:
AREAS COVERED
WHO WILL BENEFIT?
This webinar will provide valuable insights to: