Due Diligence Steps for Form 1099

Wilmington DE

13 July, 2021

2:08 AM

Description

Learn about changes to the Form 1099 for 2021, 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. Read More SESSION HIGHLIGHTS: The basics, including who, issue 1099s, what transactions are reportable, and who gets 1099Form 1099-MISC and 1099-NEC changes for 2021Employee vs. Contractor: why it’s important and how to tell the differenceUsing Form W-9 for better complianceTIN verificationIRS letters and how to respondBackup withholdingPaying reimbursements to contractors: 1099 reportable or not Why You Should Attend: This course will cover compliance aspects relating to the new Form 1099-NEC, and the Form 1099-MISC. We will start by discussing the basics of 1099s including who must file, which transactions are reportable, and who receive 1099. We will then discuss due diligence steps for determining who is a contractor vs. who is an employee, and how to effectively use Form W-9. We will also discuss filing issues including due dates, the e-filing mandate, and penalties for late filing, and how to reply to CP-2100 notices from the IRS regarding mismatches in taxpayer identification numbers. Who Should Attend: Business ownersHR ProfessionalsManagersOffice ManagersBookkeepersCFOsControllers During the Q&A session following the live event, ask a question, and get a direct response from our expert speaker. Recorded Version: Unlimited viewing for 365 days ( Access information will be emailed 24 hours after the completion of the live webinar). Register Now