Due Diligence Steps for Form 1099
Duration : 60 Minutes
This course, has been approved for 1 HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®).
Jason Dinesen,
Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert and a well-known presenter of continuing education courses.
Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance Read more
This course will cover compliance aspects relating to the new Form 1099-NEC, and the Form 1099-MISC. We will start by discussing the basics of 1099s including who must file, which transactions are reportable, and who receive 1099. We will then discuss due diligence steps for determining who is a contractor vs. who is an employee, and how to effectively use Form W-9. We will also discuss filing issues including due dates, the e-filing mandate, and penalties for late filing, and how to reply to CP-2100 notices from the IRS regarding mismatches in taxpayer identification numbers.
Why Should You Attend:
Learn about changes to the Form 1099 for 2020, including the introduction of a new form (Form 1099-NEC), how to tell the difference between an employee and a contractor, how to use Form W-9 effectively, IRS penalties and ways out of penalties, and how to respond to IRS notices.
Course Outline:
• The basics, including who, issue 1099s, what transactions are reportable, and who gets 1099
• Form 1099-MISC and 1099-NEC changes for 2020
• Employee vs. Contractor: why it’s important and how to tell the difference
• Using Form W-9 for better compliance
• TIN verification
• IRS letters and how to respond
• Backup withholding
• Paying reimbursements to contractors: 1099 reportable or not
• Form 1099-K and its interaction with the 1099-MISC/1099-NEC
What You Get:
• Training Materials
• Live Q&A Session with our Expert
• Participation Certificate
• Access to Signup Community (Optional)
• Reward Points
Who Will Benefit:
• 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
• Bank Managers
• Compliance Officers
• Information Reporting Officers
• Tax Managers
• Auditors
• Risk Managers
Please reach us at 1-888-844-8963 for any further assistance or if you wish to register
100% MONEY BACK GUARANTEED
Refund / Cancellation policyGet In Touch
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