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IRS Form 1099-MISC Reporting Requirements and Updates

Date: Tuesday, December 12, 2017
Time: 1:00 - 2:40 pm EST

Sponsored by Lorman Education Services


Registration - Live Webinar Only: $219.00

Registration - Live Webinar Plus CD Recording: $288.00

 

Don't expose yourself to compliance violations. Find out everything you need to know about Form 1099-MISC.

Many accounts payable and accounting departments struggle with correctly completing Form 1099-MISC. They often do not know how to issue a 1099-MISC to disregarded entities or how to report special payments such as legal settlements or payments made after the death of an employee. Payable departments often miss deadlines when responding to IRS B-Notices which can result in penalties.

This topic helps the persons responsible for issuing the 1099-MISC forms to collect the pertinent information to complete a correct Form 1099-MISC including payee information, information about proper boxes to report payments and how to handle follow-up questions from the IRS via B-Notice letters.

New issues for 2017 reporting, how to report to disregarded entities, how to report medical payments, legal settlements and the proper reporting for payments made after the death of an employee will be explained. Failing to properly complete and file Forms 1099-MISC is a common issue which exists for all payers, both for-profit and not-for-profit entities.

The result of issuing incorrect 1099-MISC forms is often penalties imposed on the payer. This topic will help payers avoid penalties as well as limit the number of corrected Forms 1099-MISC they will have to prepare.

Learning Objectives:

  • You will be able to define the purpose of Form 1099-MISC.
  • You will be able to explain backup withholding and the B notice process.
  • You will be able to identify the correct 1099-MISC reporting for various types of payments.
  • You will be able to recognize how to report payments made to disregarded entities.

This Live Webinar Covers These Hot Issues:

What's New

  • Di Minimis Rules for Corrections
  • New Due Dates

Form W-9

  • What Is a TIN?
  • Who Completes a W-9?
  • What to Do With Disregarded Entities

1099-MISC Rules

  • What Is the Difference Between Box 3 and Box 7?
  • Where Do You Report Legal Settlements and Medical Payments?
  • When Are 1099-MISC Forms Due to Recipients and the IRS?

Other 1099-MISC Considerations

  • Back-up Withholding and B Notices
  • Penalties

Credit Information (Sponsored by Lorman Education Services):

  • CPE
  • AIPB
  • NASBA
  • Enrolled Agents

For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Instructor Profile:

Mary H. Angelbeck

  • Retired member of Ernst & Young’s National Employment Tax/Information Reporting Group
  • Enrolled agent with the IRS
  • More than 30 years of experience in the field of taxation, both as a state administrator and as a consultant
  • Practice included managing large payroll restructuring projects; payroll tax advisory services related to mergers and acquisitions; providing year-end federal, multistate, and local payroll tax advisory services; payroll related federal, state and local tax controversy; and federal as well as state and local information reporting (1099 and 1042-S) issues
  • Speaker for local chapters of the American Payroll Association, the New York University Annual Institute on State and Local Taxation, the Federation of Tax Administrators, the Tax Executives Institute, the Counsel on State Taxation, The American Bar Association, the Pennsylvania Institute of CPAs and Lorman Education Services
  • Can be contacted at maryangelbeck@comcast.net

(Not available outside the US)