This 90 minute webinar on "Form 1099 Update 2019: Latest Forms, Rules and Reporting Regulations" will cover the latest updates for Form 1099, focusing on Form 1099-MISC and filing and furnishing 2018 Forms. The session will cover specific reporting requirements for various types of payments and payees, filing requirements, withholding requirements and reporting guidelines. It will also cover important filing due dates. the safe harbour requirements for de minimis dollar amount errors, and the due diligence steps that establish the reasonable cause exception to proposed penalties.
Why should you Attend?
The regulatory landscape for Form 1099 compliance keeps shifting as Congress attempts to balance jobs growth with narrowing the tax gap and the IRS harbor to address fraud and identity theft issues involving information returns including 1099 Forms. Over the past decade90-minute a number of changes were written into the law and regulations. While some changes have been implemented and others have been repealed, all of them created compliance challenges for businesses. To prevent fraud involving information returns and false refund claims, the filing deadlines for certain 1099 Forms has been moved up. The IRS recognized the potential for an increase in the number of errors on filed 1099 Forms and has revised the de minimis error rules. In addition, penalties for non-compliance have been increased and are now indexed for inflation. Form 1099-MISC will be covered in detail. It presents a special set of reporting problems since it is used to report a number of types of payments with different requirements for each type of payment.
For all information returns, the issuer must obtain correct tax identification information from recipients and, if required for a particular payee, withhold income tax from payments to that payee. These two processes involve soliciting and obtaining Forms W-9 and W-8 from payees, not only to obtain the information but to establish due diligence and a reasonable cause penalty exception when things go wrong.
Who will benefit?
This webcast will be of a valuable assistance to the below audience.
Form 1099, Form 1099-MISC, W-9, W-8, Form 1099-errors, SSN, EIN, TIN
Patrick Haggerty is Keynote Speaker at ComplianceTrain. He is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice. He began teaching accounting at the college level in 1988. He is licensed as an Enrolled Agent by the U. S. Treasury to represent taxpayers at all administrative levels of the IRS and is a Certified Management Accountant. He has written
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ComplianceTrain will process refund in cases where the event has been cancelled and is not rescheduled within 90 days from the original scheduled date of the webinar. In case if a live webinar is cancelled, participants/registrants may choose between recorded version of the course or a refund. Refunds will not be processed to participants who do not show up for the webinar. A webinar may be cancelled due to unavoidable circumstances, participants will be notified 24 hours before the scheduled start of the event. Contact us via email: admin@ComplianceTrain.com