CPE PACKAGES (Incl. Ethics) for Multiple States and Qualifications @ $4/credit. CLICK HERE to view.

IRS Form 1099 Reporting REQ. Including Updates On Form 1099-NEC (Latest 2021)

4.4 (8)

Jason Dinesen, EA, LPA

Dinesen Tax & Accounting, P.C.

  • AFSP
  • CFP
  • CFEs
  • CPA (US)
  • CVA
  • EA
  • Tax Preparer
  • CTEC

Published: July, 2021

IRS Form 1099 Reporting REQ. Including Updates On Form 1099-NEC (Latest 2021)

2 Credits

$20

Subject Area

Taxes

Webinar Qualifies For

2 CPE credit of Taxes for all CPAs

2 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-U-00304-20-S)

2 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273) (Approval No. 6273-CE-0311)

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

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)

2 CE credit of Federal Tax Update for Oregon Tax Preparers (Approval No. GEHNZ-U-00304-20-S)

2 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-U-00304-20-S)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

You need to register for the webinar to watch the video.

Click Here to Register

Before starting this self study program, please go through the instructional document.

The topic is also scheduled as live webinar on the following dates

Sep 22, 2021 | 03:30 PM EDT Register

Overview

  • 2021 - 1099-NEC
    4 mins
  • What is a 1099?
    12 mins
  • Form 1099 and Legal Services
    28 mins
  • The 1099-K Problem
    43 mins
  • IRS Letters
    58 mins
  • TIN Verification
    75 mins
  • Sales Tax Example
    83 mins
  • How rental property is taxed?
    96 mins

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.


Click to access more webinars on Latest Tax Updates | Tax Resolutions CPE Webinar | Trust & Estate Planning CPE Webinars

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 (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Cybersecurity Pros
  • Enrolled Agent
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Finance Pros
  • Maryland Tax Preparers
  • Non Profit Pros
  • Oregon Tax Preparers
  • Others
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros

Testimonial

4.4

(8)
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38%
13%
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MS

good class