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Effectively Handling CP 2100 letter and B Notices

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer

Published: December, 2021

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  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Overview

  • CP-2100 Letters
    4 mins
  • Responding to CP-2100 notices
    9 mins
  • Common provisions
    19 mins
  • W-9 and 1-Person LLCs
    33 mins
  • TIN verification
    39 mins

Course Description

Nervously awaiting your CP2100 Report from the IRS?

Collecting and organizing all the needed documentation to show where you’ve mailed W-9s and corrected your 1099s, all while trying to stay current with the ever-changing rules and regulations can be extremely stressful – especially with potential IRS fines hanging over your head.

Businesses receive a form called CP-2100 from the IRS when there's a mismatch between what the business put on a Form 1099 for a contractor's social security number, versus what's in the IRS's database for the contractor's social security number.

If a payer receives a CP2100 notice indicating a missing or incorrect payee TIN, they could potentially be responsible for backup withholding. Mandated by the IRS under Internal Revenue Code §3406, backup withholding rules require payers to withhold 28% of payments made to these payees, which is remitted to the IRS via Form 945, Annual Return of Withheld Federal Income Tax.

When a business receives a CP-2100 notice, it must send out what's called a "B Notice" to the contractor, to request corrected information.

Effectively handling CP-2100 letters and sending out B Notices helps a business stay in compliance and avoid penalties.

This CPE webinar will cover how to deal with CP-2100 letters, and also provide tips on avoiding these letters.

Following are the major topics covered in this Tax CE webinar:

  • What is a CP-2100 letter?
  • IRS Publication 1281 - a great resource for how to deal with CP-2100 letters.
  • What is backup withholding?
  • Understanding Form W-9.
  • IRS "TIN matching" program.
  • How to handle not getting an SSN from a contractor.

Learning Objectives

  • To analyze what is a CP-2100 letter.
  • To investigate how to use "B Notices".
  • To explain the concept of backup withholding
  • To analyze what is a Form W-9.
  • To inspect how to use the IRS's TIN Matching Program.

Recommended For

  • In this IRS Approved CE course for AFSP, CPA (US), EA, CTEC, Tax Professionals, and Other Professionals desiring to have a comprehensive overview of CP 2100 letter and B notices.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Bookkeepers & Accountants & Tax Preparers
  • California Registered Tax Professional
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 CE Credit of Federal Tax Update for Tax Professionals (Approval No. GEHNZ-U-00791-21-S)
  • 1 CE Credit of Taxes for Tax Professionals (Approval No. GEHNZ-U-00791-21-S)
  • 1 CE Credit of Federal Tax Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-00791-21-S)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Federal Tax Law Update for California Registered Tax Preparers(CRTP) (Approval No. 6273-CE-0735)
  • 1 CE Credit of Taxes for Annual Filing Season Program (AFSP)

Presenter

About Presenter

Jason Dinesen, EA, LPA

President Dinesen Tax & Accounting, P.C.

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. 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.

About Company

Dinesen Tax & Accounting, P.C.

www.dinesentax.com

Unlike some other accounting firms, when Dinesen Tax & Accounting, P.C. says we offer personal service, we mean it. When you come to us with your tax preparation needs, you’ll deal directly with our owner and president, Jason Dinesen. We don’t put administrative staff in the middle of you and our tax expert. That means you’ll always have first-hand knowledge of where things stand, and important information won’t slip through the cracks. We welcome all clients, but especially individuals who want the benefits of a long-term relationship with an accounting firm capable of handling anything that might come along with their taxes. We give all our clients the time, attention, and convenience they should expect. If you have a challenging professional or personal schedule, Jason will accommodate you by meeting whenever – and wherever – works best for you.

Faq

FAQs content

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