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

  • AFSP
  • CFE
  • CPA (US)
  • CVA
  • EA
  • Tax Preparer
  • CRTP

Published: July, 2021

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

  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

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

Recommended For

This IRS Approved Online CPE/CE Tax webinar is recommended for CPAs, CVA, EAs, CFEs, and Tax Preparers who wants to assist their clients in staying compliant 

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

Course Qualification

Webinar Qualifies For

  • 2 CE Credit of Federal Tax Update for Tax Professionals (Approval No. GEHNZ-U-00304-20-S)
  • 2 CE Credit of Taxes for Tax Professionals (Approval No. GEHNZ-U-00304-20-S)
  • 2 CE Credit of Federal Tax Update for Tax Professionals (Approval No. GEHNZ-U-00304-20-S)
  • 2 CE Credit of Taxes for Tax Professionals (Approval No. GEHNZ-U-00304-20-S)
  • 2 CE Credit of Federal Tax Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-00304-20-S)
  • 2 CE Credit of Federal Tax Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-00304-20-S)
  • 2 CE Credit of Federal Tax Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-00304-20-S)
  • 2 CPE Credit for Certified Valuation Analyst (CVA)
  • 2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 2 CPE Credit for Certified Fraud Examiner (CFE)
  • 2 CE Credit of Tax Planning for Certified Financial Planners Canada (CFP Canada) (Approval No. 289997)
  • 2 CE Credit of Federal Tax Law Update for California Registered Tax Preparers(CRTP) (Approval No. 6273-CE-0311)
  • 2 CE Credit of Taxes for Annual Filing Season Program (AFSP)
  • 2 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

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • 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.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • 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.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.7

194 Ratings

Excellent

123

Very Good

55

Average

16

Poor

0

Terrible

0

SF

Sharon Forrest, AFSP

Dec 31st, 2021

I will say I have taken many of Mr. Dinesen's classes and I have come away with so much knowledge. Very happy with teaching methods.

AR

Alfonso Rivera, RTRP

Dec 29th, 2021

very good explained.

BT

Betty Tran,, CPA (US)

Dec 28th, 2021

Great presentation! I enjoyed your webinar and found myself chuckling a few times throughout the presentation. I like your sense of humor.

KP

Kyun Park, CPA (US)

Dec 25th, 2021

Excellent Webinar ! Strongly Recommended !!! jp, CPA

KA

Kathryn Astbury, CPA (US)

Dec 14th, 2021

Excellent reference material provided and presentation was great.