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Bonus for Each Registrant: The webinar speaker will answer one written question that you may submit by email within one week after the webinar.
Special Feature: If you register for this webinar and cannot attend, you will be able to access a one-time instant replay without charge for up to 90 days after the date of the webinar.
Description
Filing a Form 1099 for your vendors that contains wrong information wastes your time and could cost your business money. How do you know your vendor’s W-9s are correct? What are the consequences of filing incorrect name and ID numbers in your 1099s? With the use of TIN Matching, you can move your business toward full Form 1099 compliance, improve efficiency, standardize processes, and compile adequate documentation to ensure your 1099s contain accurate information that will agree with the IRS's records. You will all but eliminate your B-Notices from the IRS!
Discover the power of the TIN Matching system. Learn how to handle the CP-2100 notices from the IRS and avoid the fines and penalties for failure to comply in a timely manner with the B-Notice requirements. Understand the difference between the 1st and 2nd B-Notice and the related differences in required vendor responses. Be sure you institute and stop Backup Withholding when required.
Experienced CGMA and businessman Miles Hutchinson will explain the best practices to help you ensure your W-9 information matches that of the IRS-before the 1099s go out-even before making the first payment to a new customer. He will show you how to handle most efficiently the few B-Notices that might sneak through and help ensure that your business never has to pay a penalty for failure to comply with these burdensome regulatory requirements.
Agenda
- Starter Question: What is TIN Matching?
- Who must request access to the TIN Match system?
- How do you register to use the system?
- How does the TIN Match system work?
- What is a CP-2100 notice and how do you respond to the IRS?
- What is a B--Notice?
- How much time do you have to respond to the CP-2100?
- How does my customer respond and how much time do they have?
- What are the best practices for managing 1099 reporting requirements?
- How do you deal with customers who report incorrect information on their W-9s?
- B-Notices: when you receive a letter from the IRS stating you have incorrect names/TINS on your 1099s, what must you do, and what are the deadlines?
- What if you receive a Notice of Proposed Penalty?
Faculty
Miles Hutchinson, is a CGMA and experienced businessman. He has been an auditor with PriceWaterhouseCoopers and the Chief Financial Officer of a $1 billion real estate development institution. Miles is a highly sought after professional speaker and consultant who has presented over 1000 seminars and training sessions on a myriad of business and financial topics, such as financial analysis and modeling, accounting matters, strategic planning, and compliance with the Sarbanes-Oxley Act. His clients include, Abbott Labs, Citicorp, the FBI, GE, Pfizer, and the US Marine Corps.
Webinar Overview
* 90 minutes (Travel Free) delivered over the Internet.
* Unlimited listeners per connection - bring the entire department.
* Q&A session with the expert.
This event will be presented live with a PowerPoint presentation to be viewed on your computer. You may listen to the audio of the webinar by telephone or through your computer. The PowerPoint slides will be provided shortly before the event. Once you register, you will receive an email which is your receipt and which includes your instructions for dialing in and logging on. You will also receive an email reminder 24 hours before the webinar.
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