myCPE

IRS FORM 1099 REPORTING REQ. including updates on FORM 1099-NEC (LATEST 2020) 1 Credit 1 Credit

Jun 30, 2020, 03:00 PM ET

IRS FORM 1099 REPORTING REQ. including updates on FORM 1099-NEC (LATEST 2020) 1 Credit 1 Credit

  • Rating

    4.7

  • Published on

    December, 1969

  • Subject Area

    Taxes

Learning mode

Live Webinar
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  • Take the assessment test
  • Get your certificate
  • Attend the live interactive session
  • Answer the polling questions
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Jun 30, 2020, 03:00 PM ET

Learning Objectives

  • Why file a Form 1099? & Who must issue a 1099?
  • Identify the rules requiring W-9 documentation and 1099 reporting for various types of forms.
  • Recognize how to establish the independent contractor relationship with the right documentation.
  • Recognize the rules and keep your company in compliance
  • Identify that your records are correct and will stand the scrutiny of an IRS 3rd Party Documentation and Reporting audit

Course Overview

Any business – regardless of its structure (sole proprietor, corporation, etc) that makes "reportable transactions" during the year is requires to issue 1099 to the recipient of income and to the IRS. Form 1099-MISC compliance is a surprisingly complicated compliance requirement for businesses and accountants. The requirements are always changing, and answers are seldom clear-cut. This course will de-mystify some of the tricky areas relating to Form 1099-MISC, such as when 1099 should be issued and whether a worker is a contractor or an employee. 

This webinar includes the latest update on  Form 1099-NEC which is being Resurrected by IRS & it will be used to report payments made to independent contractors. 

In order to stay compliant, practitioners must know which form to use to report specific transactions, when forms must be filed or furnished to recipients in order to be on-time, which information to include and how to make sure it is accurate. The attendees of the webinar would learn : 

  • What constitutes a reportable transaction ?
  • What are the rules regarding paying and IRS reporting on Independent Contractors?
  • How do we avoid the IRS CP-2100 (B-Notices)? What if our vendor/payee claims exemption; must we obtain a W-9 anyway? 
  • What are the best practices for handling our information reporting obligations?
  • How can we minimize risk of improper exemption claims by our payees and vendors? 
  • Different due diligence procedures that shield an issuer from penalties even when the forms contain incorrect information.
This webinar is recommended for everyone professional in Accounting industry including Bank Managers, Compliance Officers, Information Reporting Officers, Tax Managers, CFOs, Controllers, Accounting Managers, Auditors, IT Managers, Compliance Managers, Risk Managers or every profesional & team member in accounting practice.

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Certified Public Accountants (CPA-US) 1 CPE Approved
Enrolled Agents (EA) 1 CE Approved
Annual Filing Season Program (AFSP) 1 CE Approved
California Registered Tax Preparers (CRTP) 1 CE Approved
Federal Tax Related Matters for Oregon Registered Tax Preparers (ORTP) (Approval No. 00521-21) 1 CE Approved
Certified Wealth Strategist (CWS) 1 CE Eligible
Certified Fiduciary and Investment Risk Specialist (CFIRS) 1 CE Eligible
Certified Valuation Analyst (CVA) 1 CPE Eligible
Federal Tax Related Matters for Maryland Tax Preparer (MRTP) (Approval No. 00521-21) 1 CE Approved
Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 1 CPE Eligible
License details Credits Status
Certified Public Accountants (CPA-US) 1 CPE Approved
Enrolled Agents (EA) 1 CE Approved
Annual Filing Season Program (AFSP) 1 CE Approved
California Registered Tax Preparers (CRTP) 1 CE Approved
Federal Tax Related Matters for Oregon Registered Tax Preparers (ORTP) (Approval No. 00521-21) 1 CE Approved
Certified Wealth Strategist (CWS) 1 CE Eligible
Certified Fiduciary and Investment Risk Specialist (CFIRS) 1 CE Eligible
Certified Valuation Analyst (CVA) 1 CPE Eligible
Federal Tax Related Matters for Maryland Tax Preparer (MRTP) (Approval No. 00521-21) 1 CE Approved
Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 1 CPE Eligible

Additional Information

Credit

1

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC, in accordance with the standards set forth in Circular 230 section 10.6, grants Continuing Education (CE) credits based on a 50-minute hour. MY-CPE LLC is approved by the California Tax Education Council (CTEC) (Provider Number – 6273) to offer continuing education courses that count towards the annual continuing education requirement for CTEC Registered Tax Preparers. Additional information regarding registration as a tax preparer can be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free at (877) 850-2832, or by visiting www.ctec.org.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.com.

About Instructor

Top Tax Speaker | Jason Dinesen

Jason Dinesen , EA

President, Dinesen Tax & Accounting, P.C.

  • 4.6
  • rating
  • rating
  • rating
  • rating
  • rating

Jason Dinesen (LPA, EA) is an entrepreneur, tax expert, and CPE Presenter. Dinesen brings over 15 years of experience helping individuals and businesses with accounting, bookkeeping, tax preparation, and business advisory in various industries. Dinesen is a regular CPE Presenter at MYCPE ONE. He has coached more than 200k+ accounting, taxes, and HR professionals on various topics of accounting, individual taxation, corporate taxation, and professional ethics. Jason has developed a strong following within the professional community for tax-related subjects. Dinesen is known for sharp tax interpretations, and he quickly brings his analysis of the latest tax updates and IRS guidance to the professional community.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

Excellent (69%)

Very Good (25%)

Average (3%)

Poor

Terrible (2%)

LG

Leslie Goldstein, Tax Manager

5

Jason Dinesen is a very engaging presenter. He displays knowledge of the materials and is open to new ideas and suggestions. He let's everyone know upfront that this is a topic that is constantly evolving. It's great that he brings in life's examples.

PH

Patty Henning, Owner

5

I don’t think it is relevant to my experience in this webinar.. but I did have an issue printing the PowerPoint slides...?? Eeek! The cells printed extra large... and some of the info was cut-off....,,, I just thought I’d mention this , in case there is anything that could be done about that on the presenting side ..?? If not no worry I was happy with the webinar in all.... Thank You! PH in Chicago

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