IRS Form 1099 Reporting: Compliance Requirements


Jason Dinesen is a keynote speaker of Compliance Key. Jason Dinesen is the President of Dinesen Tax & Accounting, P.C., a public accounting firm in Indianola, Iowa. His practice focuses on accounting and bookkeeping services, tax preparation and business advising to a variety of clients and industries. Dinesen has extensive experience working with a third-party administrator of retirement plans and is a prior presenter of multiple 1099 seminars. Dinesen majored in corporate communications with a minor in management from Simpson College.

Overview

This course will cover all the basics of Form 1099-MISC compliance, including what the form is, what payments are reportable, who receives a 1099, penalties for late filing, and how to get out of penalties. We will also cover a new form coming for 2020 -the Form 1099-NEC, which will dramatically change how contract labor payments are reported.

Why should you attend this webinar?

The IRS is increasing its enforcement of 1099 compliance, and penalties continue to rise. A new form, called Form 1099-NEC, is coming for 2020 and businesses need to know how to respond. This course will cover all of that and more, so you are prepared to deal with any 1099 situation that comes your way.

Areas Covered in the Session:

Topics which will be covered in the session
  • Basic overview of the 1099-MISC
  • What payments are reportable
  • Who receives a 1099-MISC
  • The new Form 1099-NEC
  • Due dates
  • Penalties and the 4 ways out of penalties
  • IRS notices and the "B Notice" to contractors
  • Form W-9
  • Verifying contractor SSNs
  • Backup withholding
  • Employee vs. contractor - how do you tell the difference.
  • Paying reimbursements to contractors - is it contract labor pay or not.
  • Form 1099-K and its interaction with Form 1099-MISC

Who can Benefit:

  • Business owners
  • Office managers
  • Payroll managers
  • Payroll professionals
  • Bookkeepers, accountants
  • CPAs, enrolled agents



Webinar Id: LSHCJD0001

Training Options:

Duration: 60 mins

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 Recorded: [Six month unlimited access]

 $231 (Single Attendee)  $699 (Unlimited Attendee)

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