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1099 Reporting of Payments to Attorneys and Other Third Parties

Date: Tuesday, July 24, 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

 

Make sure you are in compliance when reporting payments made to attorneys and other third parties.

Gain insight as to the Internal Revenue Service's reporting requirements for payments made to an attorney in connection with legal services (whether or not the services performed are for the benefit of the payor).

The IRS reminds us that all third-party payers, such as small businesses or individuals, are required to annually report payments made to subcontractors, attorneys, architects and other service providers. Learn about Internal Revenue Code Section 6050W which requires banks and other payment settlement entities (PSEs) to report gross annual receipts for merchants on Form 1099-K.

You will be provided with the knowledge to ensure compliance with these laws regarding these payments and advise payors of their responsibilities.

Learning Objectives:

  • You will be able to recognize legislative updates.
  • You will be able to discuss credit card reporting on Form 1099-K.
  • You will be able to explain Attorneys' Fee Rule.
  • You will be able to review IRS reporting requirements of back pay or wage settlements.

This Live Webinar Covers These Hot Issues:

1099 Reporting for Settlement Agreements

  • Gross Proceeds Paid to Attorneys
  • Taxable Claimant Payments
  • Punitive Damage Awards
  • IRS Reporting Requirements of Back Pay or Wage Settlements

Middleman Regulations (SEC 6041)

  • Attorneys' Fee Rule
  • Middleman Payments

Other Third Party Reporting Requirements

  • Impact of 1099-K Reporting
  • Online Merchants Reporting Requirements
  • Possible Backup Withholding Issues

2018 Legislative Updates

Credit Information (Sponsored by Lorman Education Services):

  • CLE
  • CPE
  • AIPB
  • NASBA
  • Enrolled Agents

For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Instructor Profile:

Marcia L. Miller, M.B.A, 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
  • Member - Internal Revenue Service's Information Reporting Program Advisory Committee
  • (IRPAC) - Appointment continued for a three year term through December 2017
  • Author, speaker and teleconference expert for various national companies and accounting organizations at their annual conferences, lecturing on a multitude of tax, technical and nontechnical 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)