Form 1099: Latest Forms Rules and Reporting Regulations

Topic :Form 1099: Latest Forms Rules and Reporting Regulations

Register : https://www.ijonaskills.us/webinarDetails?webinarid=743&speakerid=68&domain=4&source=EG_RD

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Overview:

This webinar will cover the latest updates for Form 1099-MISC, as well as the new version of Form 1099-NEC. It will cover specific reporting requirements for various types of payments and payees, filing requirements, withholding requirements and reporting guidelines.

Areas Covered in the Session :

• Information Returns: 2020 update to Form 1099-MISC; Resurrection of Form 1099-NEC 
• Information Returns: What they are and using the Guide to Information Returns
• Forms 1099-MISC, 1099-NEC and 1096: Identification of reportable payments and payees
• Common 1099 errors - how to prevent them and how to correct them
• Taxpayer identification number basics: Which number to use
• Form W-9: documentation that establishes reportable and non-reportable payees
• Due diligence procedures avoid or mitigate penalties 
• How to handle missing or incorrect payee tax ID numbers
• "B" notice procedures: When to issue and how to follow-up
• Using the IRS TIN verification system to avoid IRS notices
• Backup withholding requirements and procedures
• Penalties for late or incorrect 1099 Forms 
• Procedures and policies that establish "reasonable cause" and avoid penalties

Speaker:

MPatrick Haggerty is Keynote Speaker at Ijona Skills. He is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice. He began teaching accounting at the college level in 1988.

Contact Info :
Ijonaskills
https://www.ijonaskills.us
Email : [email protected]
Phone :  +1 302-830-3132