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
Nervously awaiting your CP2100 Report from the IRS?
Collecting and organizing all the needed documentation to show where you’ve mailed W-9s and corrected your 1099s, all while trying to stay current with the ever-changing rules and regulations can be extremely stressful – especially with potential IRS fines hanging over your head.
Businesses receive a form called CP-2100 from the IRS when there's a mismatch between what the business put on a Form 1099 for a contractor's social security number, versus what's in the IRS's database for the contractor's social security number.
If a payer receives a CP2100 notice indicating a missing or incorrect payee TIN, they could potentially be responsible for backup withholding. Mandated by the IRS under Internal Revenue Code §3406, backup withholding rules require payers to withhold 28% of payments made to these payees, which is remitted to the IRS via Form 945, Annual Return of Withheld Federal Income Tax.
When a business receives a CP-2100 notice, it must send out what's called a "B Notice" to the contractor, to request corrected information.
Effectively handling CP-2100 letters and sending out B Notices helps a business stay in compliance and avoid penalties.
This webinar will cover how to deal with CP-2100 letters, and also provide tips on avoiding these letters.
Following are the major topics covered in this webinar:
• What is a CP-2100 letter?
• IRS Publication 1281 - a great resource for how to deal with CP-2100 letters.
• What is backup withholding?
• Understanding Form W-9.
• IRS "TIN matching" program.
• How to handle not getting an SSN from a contractor.
• To analyze what is a CP-2100 letter.
• To investigate how to use "B Notices".
• To explain the concept of backup withholding
• To analyze what is a Form W-9.
• To inspect how to use the IRS's TIN Matching Program.
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