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IRS Form 1099-MISC Reporting Requirements and Updates

Date: Monday, December 17, 2018
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.

Are you struggling with the revised laws that dictate how to correctly complete Form 1099-MISC? Are you acquainted with the W-9 process and specific rules regarding disregarded entities? Is the responsible party in your organization responsible for responding to IRS B-Notices aware of the timeline and procedure to respond to avoid further penalties?

Learn the proper procedure to issue a correct 1099-MISC, collect the pertinent information including payee information, information about proper boxes to report payments and know how to respond to an IRS B-Notice. Failing to properly complete and file Forms 1099-MISC is a common issue which exists for all payers.

Incorrect 1099-MISC Forms can lead to penalties imposed on the payer. With the rapid increase of penalties serving as a revenue raiser for the government, it is imperative to be knowledgeable about the regulations and avert financial ruin to an otherwise profitable company.

Learning Objectives:

  • You will be able to describe all of the payments reported on Form 1099-MISC.
  • You will be able to explain backup withholding and the B notice process including proper recognition of payments to disregarded entities on Form W-9.
  • You will be able to discuss correct reporting on 1099-MISC reporting if errors are made.
  • You will be able to review 2018 updates for compliance.

This Live Webinar Covers These Hot Issues

Beginning the 1099-MISC Process

• Form W-9 and Discussion of Disregarded Entities
• Electronic Filing Requirements of Forms 1099 (FIRE)
• IRS TIN Matching Program and Procedures to Correct Inaccurate 1099s

1099-MISC

• Familiarization of the 1099-MISC Boxes and Purposes
• Increased Penalties for Noncompliance and Fees
• Backup Withholding and Filing Requirements for U.S. and Nonresidents
• B-Notice Proceedures
• Independent Contractor Issues - Misclassifications and Remedies (Form 1099-MISC)
◦ Including the Voluntary Classification Settlement Program (VCSP) (Form 8952)

2018 Updates for Compliance

• Revised Due Dates per the Tax Cuts and Jobs Act (TCJA)
• De Minimus Safe Harbor Relief for Information Returns
• Other 2018 Updates

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.

Faculty

Marcia L. Miller, MBA, E.A., Financial Horizons, Inc.

  • President and owner of Financial Horizons, Inc., a full service accounting and tax firm
  • Enrolled agent entitled to practice before the Internal Revenue Service
  • 40 years of accounting, tax and management consulting in South Florida for a practice with an emphasis on representing small business owners in all aspects of taxes, employment and labor issues, pensions, estate planning as well as federal, state (nationwide) and foreign mandatory reporting
  • Federal appointment successfully completed for a three year term to the Internal Revenue Service's Information Reporting Program Advisory Committee (IRPAC)
  • Author, speaker and teleconference expert, for various national companies and accounting organizations at their annual conferences, lecturing on a multitude of tax, technical and non-technical topics focusing on the areas of tax planning, management and health care reform
  • Managing director, Transition Advisors, LLC, leading CPAs through transition with succession and M & A strategies
  • Live presenter at the 2016 CCH Annual User's Conference and FICPA Chapter meetings regarding Succession Planning for CPAs
  • Previous nationwide presenter of tax legislative seminars for Thomson Reuters' Bell Learning Series on current business taxation and accounting issues
  • Former adjunct professor at Nova Southeastern University's H. Wayne Huizenga School of Business and Entrepreneurship
  • M.B.A. and B.B.A. degrees, University of Miami School of Business

(Not available outside the US)