IRS Form 1099 Reporting Req. including updates on FORM 1099-NEC (LATEST 2021)

4.7 (83)

Jason Dinesen, EA, LPA

Dinesen Tax & Accounting, P.C.

Thursday, April 22, 2021 | 03:00 PM EDT

  • AFSP
  • CPA
  • CVA
  • EA
  • Tax Preparer
  • CTEC
  • CFE

2 Credits

FREE

Subject Area

Taxes

Webinar Qualifies For

2 CPE credit of Taxes for all CPAs

2 CPE credit for Certified Fraud Examiners (CFEs)

2 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

2 CE credit of Tax Planning for all CFPs (CFP Board Approved : 8061) (Approval No. 289997)

0.5 CE credit of Federal Tax Update for Oregon Tax Preparers

2 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ )

2 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273)

2 CE credit of Federal Tax for Maryland Tax Preparers

2 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Additional Dates

May 21, 2021 | 10:00 AM EDT Register

This webinar is also available in self-study (On-Demand)

Click Here

Course Description

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 Online 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. 

This Online CPE Webinar covers following Key Topics: 

  • 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 CPE 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 professional & team member in accounting practice.

Learning Objectives

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

Who Should Attend?

  • Business Owner
  • California Registered Tax Professional
  • Certified Fraud Examiner
  • Certified Valuation Analysts
  • CFO/Controller
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Cybersecurity Pros
  • Enrolled Agent
  • Entrepreneurial CPA
  • Finance Pros
  • Maryland Tax Preparers
  • Non Profit Pros
  • Oregon Tax Preparers
  • Others
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Testimonial

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(
    [no_of_record] => 83
    [average] => 4.6867
)
 

4.7

(83)
70%
29%
1%
0%
0%

LR

I had questions on some issues with 1099s and the webinar answered my questions.

LR

I had questions on some issues with 1099s and the webinar answered my questions.

JT

Loved it. Jason is the best presenter that myCPE has to offer.

BH

Jason Dinesen was an excellent instructor and I would highly recommend this webinar.

JC

Jason Dinesen presents the material clearly and concisely. Thank you!

RY

The handout and presentation was fine. The polling was causing problems and by cutting out from the presenter I believe there were items of conversation missed as he was talking when it would cut back to him. Maybe allow the poll to pop up, if this is really live, while the presenter is still in discussion either answering questions or clarifying things.