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2020 Forms 1099-MISC and 1099-NEC Year End Changes & Updates
December 18, 2020 @ 10:00 am - 1:00 pm CST$199
- Why file a Form 1099? & Who must issue 1099?
- To identify the rules requiring W-9 documentation and 1099 reporting for various types of forms.
- To recognize how to establish an independent contractor relationship with the right documentation.
- To recognize the rules and keep your company in compliance
- To identify that your records are correct and will stand the scrutiny of an IRS 3rd Party Documentation and Reporting audit
- Using Form W-9 for compliance
- Line-by-line through the W-9
- Other compliance tips
- How Form 1099-K interacts with the 1099-MISC and 1099-NEC
Why You Should Attend:
This webinar includes the latest update on Form 1099-NEC which is being Resurrected by IRS & it will be used to report payments made to independent contractors.
- What constitutes a reportable transaction?
- What are the rules regarding paying and IRS reporting on Independent Contractors?
- How do we avoid the IRS CP-2100 (B-Notices)? What if our vendor/payee claims exemption; must we obtain a W-9 anyway?
- What are the best practices for handling our information reporting obligations?
- How can we minimize the risk of improper exemption claims by our payees and vendors?
- Different due diligence procedures shield an issuer from penalties even when the forms contain incorrect information.
Who Should Attend:
- HR Professionals/Managers
- CFOs and controllers
- Tax preparers
- Public Accountants
- Accounting managers
- Accounts payable processing professionals
- Employers and Business owners
- CPAs and Enrolled Agents
- Purchasing managers and professionals