Regulatory Compliance Update 2021 | Form W-9 & 1099

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Course Description
Course Qualification
Presenter
FAQ

Course Description

Overview

IRS Tax Collection Issues

3 mins
W-9 Guidelines

10 mins
FATCA

17 mins
Best Practices

30 mins
Payees Exempt From B/U W/H

46 mins
Use of IRS FAQs

58 mins
Form 1099-MISC

75 mins
Electronic Submissions to the IRS

98 mins

Course Description

For years the IRS has struggled with the independent contractor and tax collection. And the situation has not changed very much. In assessing opportunities to close the tax gap – that is taxes due but not reported or paid - one of the greatest opportunities comes from expanding the information reporting on taxpayers by payers – the 1099.

This online CPE webinar for CPAs key questions solved in the webinar:

What are the rules regarding paying and IRS reporting on Independent Contractors?
How do I avoid the IRS CP-2100 (B-Notices)?
What if my vendor claims exemption; must I obtain a W-9 anyway?
What are the best practices?
How can I minimize risk of improper exemption claims by my vendors?
Other related questions to reduce your risk of huge penalties from the IRS.

This online CPE webinar for CPAs Key benefits from attending the webinar:

Identifying the rules requiring W-9 documentation and 1099 reporting
How to establish the independent contractor relationship with the right documentation
Understanding the rules and keep your company in compliance
Ensuring that your records will stand the scrutiny of an IRS 3rd Party Documentation and Reporting audit.
Avoiding the onerous penalties for noncompliance
Building the best defense against the 972-CG Notice of Proposed Penalty Letter

This online CPE webinar for CPAs, the 1099 has become a time consuming reporting obligation and can be streamlined in a number of ways. Join this webinar to make it with ease.

Learning Objectives

To recognize the best set up an independent contractor in vendor payment system to ensure compliance with the IRS reporting rules
To identify the protocols for setting up new vendors (ICs)
When to file Form W-9
To recognize the best way to test the accuracy of the W-9 information with the IRS’s records – for free!
Who and what you pay determines whether you must report (1099 reporting)

Who Should Attend?

Accountant
Accounting Firm
Accounting Managers
Auditors
Bank Managers
CFO/Controller
Compliance Managers
CPA (Industry)
CPA - Mid Size Firm
CPA - Small Firm
CPA in Business
HR Professionals
Human Resources Manager
Risk Managers
Tax Accountant (Industry)
Tax Attorney
Tax Director (Industry)
Tax Firm
Tax Managers
Tax Practitioners
Tax Preparer
Tax Pros
Young CPA

Course Qualification

Webinar Qualifies For

2 CE Credit of Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0308)
2 PDC Credit of Business Acumen for SHRM Professionals (Approval No. 22-3H5UJ)
2 RCH Credit of HR (General) for Human Resource Certification Institute (HRCI) (Approval No. 583546)
2 CE Credit for Enrolled Agents (EA) (Approval No. GEHNZ-U-00301-20-S)
2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
2 CE Credit for Annual Filing Season Program (AFSP)
2 CE Credit for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-00301-20-S)
2 CE Credit for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-00301-20-S)
2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
2 CE Credit for Certified Wealth Strategist (CWS)
2 General Credit for Accountant/Bookeeper
2 RCH Credit for Fundamental Payroll Certification (FPC) (Approval No. 22CPE021)
2 RCH Credit for Certified Payroll Professional (CPP) (Approval No. 22CPE021)

Additional details

Course Level :

Basic
Credits :

2
Instructional Method :

QAS Self Study
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 maintenance 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.

NASBA APPROVED

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

MY-CPE LLC (Sponsor Id#: 143597) 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.org.

CTEC APPROVED

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

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Miles Hutchinson

President, Learn Continuously, LLC

Miles Hutchinson is a CGMA and experienced businessman. He has been an auditor with PriceWaterhouseCoopers and the Chief Financial Officer of a $1 billion real estate development company. Miles is a professional speaker and consultant who has presented over 2,700 seminars and training sessions on a myriad of business and financial topics, like financial analysis and modeling, accounting, strategic planning, and compliance with the Sarbanes-Oxley Act. He is recognized as an expert in payroll and sales & use tax as well as financial modeling & analysis, business strategy and communications. He is the author of several useful accounting and tax tools available at www.soxpolicies.com and www.salestaxadvisors.com. His clients include, Abbott Labs, Bank of America, Boston Scientific, Citicorp, Corning, the FBI, the FDA, the Federal Reserve, GE, Pfizer, Siemens, US Marine Corps, and the US Army. Please visit his web sites to see how you can further benefit from his expertise.

About Company

Learn Continuously, LLC

www.learncontinuously.com

Learn Continuously, LLC creates and delivers comprehensive business training. We are a predominantly web based training host providing continuing education that is easy to use, interactive, interesting and cost effective. Learn Continuously focuses on advancing students in businesses, NGOs and government by offering a full complement of topics from leadership and communication skills, salesmanship, operations and management, to risk management and regulatory compliance. Our training philosophy supports participants who aspire to earn advancement in their organizations by growing their knowledge, passions and talents. Our methods include discussions of best practices and market trends, regulatory updates, product demonstrations, concept outlines, sample scripts, and references to tested and effective resources.

We apply high internal standards to bring you the most highly sought after experts who are also accomplished course leaders, develop outstanding training materials, and utilize state-of-the-art e-learning techniques and technologies to facilitate the exchange of ideas to assist our clients in achieving operational excellence. Our products and services may be customized to fit any industry, organization or market. Our formula assures we will ignite knowledge and experience into effective action.

Our mission is to empower professionals through effective online training sessions. Our world class training methodologies stem from a comprehensive understanding of learning needs from the individual to the global perspective. Our offerings will exceed expectations and provide an exceptional return on your investment.

Faq

FAQs content

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Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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