TIN Solicitation Best Practices

• OVERVIEW

This is nothing to worry about as long as your organization is doing what it is supposed to be doing when it comes to reporting income paid on Forms 1099. Now, more than ever you must utilize best practices with regards to collecting and reporting taxpayer-identification numbers and income as required. In this newly-created program, you will learn exactly what you should be doing to comply with IRS regulations.

• LEARNING OBJECTIVES

Identify all required TIN Information you need to collectDesign a best practice TIN solicitation processRecognize outdated TIN collection practicesDetermine who should sign up for IRS TIN matching in your organizationIncorporate appropriate TIN solicitation practices into your new vendor operationsIdentify those situations when you should require a new W-9

• WHY SHOULD YOU ATTEND

While TIN solicitation might sound too lascivious for the legitimate business world, every organization must take this task seriously. For if they don't, a very uncomfortable and costly audit with the IRS is likely to ensue. If you've heard that the IRS budget is likely to be cut and think that means good news for your organization when it comes to audits, think again. The indications are that enforcements concerning information reporting errors will be up.

• AREAS COVERED

• Identify all required TIN Information you need to collect
• Design a best practice TIN solicitation process
• Recognize outdated TIN collection practices
• Determine who should sign up for IRS TIN matching in your organization
• Incorporate appropriate TIN solicitation practices into your new vendor operations
• Identify those situations when you should require a new W-9

• WHO WILL BENEFIT?

• Accountants: controllers, assistant controllers, accountants, accounting managers, GL managers
• Auditors: company internal auditors, accounting firm auditors
• Finance
• CFO
• Procurement
• Accounts Payable: managers, directors, supervisors, and professionals
• Accounts Receivable: managers, directors, supervisors, and professionals
• Other

• SPEAKER

Mary S. Schaeffer is the author of 18 business books, a monthly newsletter, and a free bi-weekly e-zine, as well as several CPE courses for CPAs. She runs AP Now, a boutique publishing and consulting firm focused on accounts payable issues. She also serves as the Education Director for the Institute of Financial Operations.