Organize and Presented By
247compliance
Sponsored By
247compliance
Organizing/Related Departments
Banking and Finance Resource
Organization Type
Event Organizing Company
WebinarCategory
Non Technical
WebinarLevel
All (State/Province/Region, National & International)
Related Industries
Finance
Accounting/Financial/Banking/Insurance
Location
Newark, Delaware, United States
This webinar will cover the latest supdates for Form 1099, focusing on Form 1099-MISC and filing and furnishing 2018 Forms. The session will also cover specific reporting requirements for various types of payments and payees, filing requirements, withholding requirements and reporting guidelines. It will also cover important filing due dates, the safe harbor requirements for de minimis dollar amount errors, and the due diligence steps that establish the reasonable cause exception to propose penalties.
- LEARNING OBJECTIVES
- Reminders & What's New
- Changes to filing deadlines and affected returns
- De minimis exception for money errors
- Increases in penalties for non-compliance
- Information Returns
- Overview of information returns
- Resources for compliance
- A walk through Form 1099-MISC
- Identification of reportable payments and payees
- Correcting Errors
- Common 1099 errors - how to prevent them and how to correct them
- SSN, TIN, EIN
- Taxpayer identification number basics: Which number to use
- Documentation that established reportable and non-reportable payees
To prevent fraud involving information returns and false refund claims, the filing deadlines for certain 1099 Forms has been moved up. The IRS recognized the potential for an increase in the number of errors on filed 1099 Forms and has revised the de minimis error rules. In addition, penalties for non-compliance have been increased and are now indexed for inflation.
Form 1099-MISC will be covered in detail. It presents a special set of reporting problems since it is used to report different types of payments with different requirements for each type of payment. For all information returns, the issuer must obtain correct tax identification information from recipients and, if required for a particular payee, withhold income tax from payments to that payee. These two processes involve soliciting and obtaining Forms W-9 and W-8 from payees, not only to obtain the information but to establish due diligence and a reasonable cause penalty exception when things go wrong.
- TIN Solicitation and "B" Notices
- Due diligence procedures avoid or mitigate penalties for missing or incorrect payee tax ID numbers
- "B" notice procedures: When to issue and how to follow-up
- TIN Verification
- Using the IRS TIN verification system
- Backup Withholding
- What it is?
- When to start and when to stop?
- How to deposit and report?
- Penalties and problems
- Procedures and policies that establish " reasonable cause" and avoid penalties
- CFOs and controllers
- Accounts payable and accounting managers
- Accounts payable processing professionals
- Employers and Business owners
- Purchasing managers and professionals
- Public accountants, CPAs, and Enrolled Agents
Registration Fees
Available
Registration Fees Details
Live session for 1 participant
$199
Live + Recorded Session
$269
Live + Transcript
$249
Live + Training CD
Free shipment within 72 hours from the date of webinar completion.
$450
On Demand Options
Transcript
$179
Downloadable recorded session
$239
Training CD
Free shipment within 72 Hours, from the date of webinar completion
$350
Group Session unlimited participants + Recorded
$799
Registration Ways
Email
Phone
Website
Other
Address/Venue
247compliance
2035 Sunset Lake,
RoadSuite B-2,
Newark,
Delaware - 247compliance
Pin/Zip Code : 247compliance