Form 1099-MISC Updates for 2020


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 explain the 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.

Why should you attend this webinar?

The Form 1099-MISC has changed for 2020; businesses will no longer report contract labor on Box 7 the 1099-MISC. Instead, businesses will use the new Form 1099-NEC to report contract labor payments. This webinar will discuss the new form, as well as the changes to the 1099-MISC. We will cover many other 1099-related topics, including penalties, how to get out of penalties, how to respond to IRS letters, and how Form 1099-K interacts with the 1099-MISC and 1099-NEC.

Areas Covered in the Session:

  • The basics, including: who issues 1099s, what transactions are reportable, and who gets a 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

Who can Benefit:

  • Payroll
  • Human resources
  • Accountant
  • Office manager
  • Bookkeeper



Webinar Id: CKJD003

Training Options:

Duration: 60 mins

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 Recorded: [Six month unlimited access]

 $183 (Single Attendee)  $399 (Unlimited Attendee)

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