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Form 1099 Updates
May 18 @ 1:00 pm - May 22 @ 10:00 am CDT$150
Regardless of its structure (sole proprietor, corporation, etc.) that makes “reportable transactions” during the year, any business is required to issue a 1099 to the recipient of income and the IRS. Form 1099-MISC compliance is a surprisingly complicated compliance requirement for businesses and accountants. The requirements are always changing, and answers are seldom clear-cut. This course will de-mystify some of the tricky areas relating to Form 1099-MISC, such as when the 1099 should be issued and whether a worker is a contractor or an employee.
There are over 20 types of 1099s; this webinar will focus on the 2 most common types — Form 1099-NEC and Form 1099-MISC — while touching on many other types of forms. This webinar will cover a wide range of topics to help you and your clients stay in compliance with 1099 issues.
Why Should You Attend
To stay compliant, practitioners must know which form to use to report specific transactions, when forms must be filed or furnished to recipients to be on time, which information to include, and how to make sure it is accurate.
Areas Covered in the Session
» To identify filing thresholds for issuing 1099s.
» To explain how to determine payment amounts.
» To analyze when corporations receive 1099s.
» To identify the Form 1099-K exception to issuing 1099s.
» To review the requirements for sending 1099s to the recipient.
» To explore how to file 1099s with the IRS, including possible changes to the electronic filing threshold.
» To discuss when a business needs to file Form 1099-MISC.
» To analyze the usage of Form W-9.
» To review and discuss CP-2100 letters and B-Notices.
» To identify when a business needs to do backup withholding.
» To explain the basics of Form 1099-INT.
» To identify changes to various other 1099 forms.
Who Will Benefit
» Office managers
» HR professionals
» Business owners
» Payroll Professionals
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