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Form 1099 Latest Developments

Form 1099-NEC Changes and More for 2021

  • Price

    $49

  • Total Credits

    4 Credit

Form 1099 Latest Developments

Overview

How Pursuing 1099 CPE Can Help You Outshine the Competitors?

As a tax practitioner, you’re most probably aware of how much the IRS likes 1099 forms.

These are the forms that let taxpayers accurately report their income generated from sources other than salary or job wages. When someone receives a 1099 form, he/she mustn’t ignore it because the IRS gets a copy of the same too.

And this is the reason why pursuing 1099 CPE makes you a valuable asset to your clients.

Keeping up with the changes in tax regulation from year to year can be challenging only if you are not aware of it.

This online CPE virtual conference will prepare a practitioner for 1099 reporting obligations. Much of our focus will be on Form 1099-NEC and contract labor reporting, but we will also cover Form 1099-MISC, and other forms a practitioner is likely to see in day-to-day practice. We will also cover how to tell the difference between an employee and a contractor, and how a client can possibly get penalty relief in an audit of this subject. We will also cover specialized topics, including whether or not rental owners need to send 1099s to contractors, interest payments on loans from S-corporation shareholders.

Register now for IRS 1099 Compliance, and in just four hours, our speaker Jason Dinesen will provide the latest, most up-to-date information you need to understand the complex classification and reporting tax rules. Don’t wait until it’s too late to act!

Register Now

Continuing Education Credits

The sessions of the conference qualifies for

  • 5 CE Credit for all AFSP
  • 5 CPE Credit of Taxes for CPA (US)
  • 3 CE Credit for all EA
  • 2 CE Credit of Federal Tax Related Matters for EA
  • 5 CE Credit for all Oregon Tax Preparer
  • 5 CE Credit for all CTEC
  • 5 CE Credit for all Maryland Tax Preparer

Speakers

Jason Dinesen

Jason Dinesen

President , Dinesen Tax & Accounting, P.C.

Jason Dinesen is the President of Dinesen Tax & Accounting, P.C., a public accounting firm in Indianola, Iowa. His practice focuses on accounting and bookkeeping services, tax preparation and business advising to individuals with a business focus ranging from home-based businesses to multistate corporations and not-for-profits. Dinesen has extensive experience working with a third-party administrator of retirement plans and is a prior presenter of multiple 1099 seminars. Dinesen majored in corporate communications with a minor in management from Simpson College.

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Session Details

Jason Dinesen
Jason Dinesen

EA, LPA

Date

Oct 22nd, 2021

Time

11:00 AM – 12:00 PM
1 Credits

An introduction to 1099s, and a Look at Form 1099-MISC

Although taxpayers may not like receiving tax documents, such as 1099s, and businesses probably like issuing them even less, 1099s are important since they keep track of income that isn't recorded in a person's wages or salary.

Form 1099-MISC presents a special set of reporting problems. It is used to report a number of types of payments with different requirements for each type of payment. Form 1099 MISC Reporting can be confusing … Failing to meet all the 1099 filing requirements can be costly.

Major topics covered in this online CPE session:

  • Information Returns
  • Filing requirements and the FIRE system
  • A walk-through Form 1099-MISC
  • Correcting Errors
  • SSN, TIN, EIN: Tax ID numbers and Form W-9
  • TIN Solicitation & "B" Notices
  • TIN Verification
  • Backup Withholding
  • Penalties and Problems

Learning Objectives

  • To identify the types of 1099s and how they are used
  • To identify key boxes on the Form 1099-MISC
  • 1 CE credit of for all AFSP
  • 1 CPE credit of Taxes for all CPA (US)
  • 1 CE credit of for all EA ( Course No. GEHNZ-T-00638-21-O )
  • 1 CE credit of for all Oregon Tax Preparer ( Course No. GEHNZ-T-00638-21-O )
  • 1 CE credit of for all CTEC ( Course No. 6273-CE-0607 )
  • 1 CE credit of for all Maryland Tax Preparer ( Course No. GEHNZ-T-00638-21-O )

Subject Area:

Taxes

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

Advance Preparation:

Jason Dinesen
Jason Dinesen

EA, LPA

Date

Oct 22nd, 2021

Time

12:00 PM – 01:00 PM
1 Credits

Form 1099-NEC reporting and how to tell the difference between a contractor and an employee

With the new updates to Forms 1099-MISC and 1099-NEC, the 1099 filing season has added a whole new layer of complexities. Whether you are new to the 1099 filing process or seeking an update, this CPE session will help minimize 1099 filing mistakes while breaking down the toughest 1099 payee and reporting situations as part of an in-depth box-by-box review of the recently revised Form 1099-MISC and new Form 1099-NEC.

Form 1099 Non-Employee Compensation (NEC) is a revised and updated version of a previously discontinued form that allows companies to report compensation paid to nonemployees, contractors, vendors and consultants alike.  In this specialized CPE session, you’ll learn why the form was resurrected, as well as other important details, such as:

  • How to prepare the form
  • Differences from and changes to Form 1099-MISC
  • Avoiding mistakes and fines
  • Publication 1220 and e-filing

This online CPE session will provide tax practitioners and other professionals with the necessary expertise to prepare and file Form 1099-NEC for reporting compensation paid to nonemployees and other independent contractors.

Learning Objectives

  • To identify what is form 1099-NEC 
  • To identify who is a contractor
  • To determine the IRS 3-factor test relating to contractor vs. employee
  • To identify other agencies that could audit a client
  • To determine the appropriate relief options for a client in an audit
  • To describe the Form SS-8
  • To describe the Form 8919
  • To review form W-9
  • 2 CE credit of for all AFSP
  • 2 CPE credit of Taxes for all CPA (US)
  • 2 CE credit of for all EA ( Course No. GEHNZ-T-00713-21-O )
  • 2 CE credit of for all Oregon Tax Preparer ( Course No. GEHNZ-T-00713-21-O )
  • 2 CE credit of for all CTEC ( Course No. 6273-CE-0668 )
  • 2 CE credit of for all Maryland Tax Preparer ( Course No. GEHNZ-T-00713-21-O )

Subject Area:

Taxes

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

Advance Preparation:

Jason Dinesen
Jason Dinesen

EA, LPA

Date

Oct 22nd, 2021

Time

01:00 PM – 02:00 PM
1 Credits

Other 1099 Situations

Whether you’re operating a business domestically or internationally, in order to succeed, you need quality team members to get the job done. Paying those workers as independent contractors, however, can be risky if your company is operating in foreign markets. There are many factors to consider when paying foreign contractors if you want to stay in compliance, minimize operational costs and keep valued contractors happy on the job.

While there are many types of 1099 forms, they all serve the same purpose; they are used by taxpayers to provide information to the Internal Revenue Service (IRS)

In this online CPE session, we will discuss all listed situations that leads to filing of form 1099:

  • Rental Activities
  • Rental real estate enterprise
  • Loans and interest payments
  • Payments to foreign contractors

Learning Objectives

  • To discuss about the 80-year-old question of whether the rental activity is a business
  • To identity the key factors in Revenue Procedure 2019-38
  • To discuss about loans from shareholders and properly reporting interest payments
  • To identify key concepts relating to foreign contractors
  • 1 CE credit of for all AFSP
  • 1 CPE credit of Taxes for all CPA (US)
  • 1 CE credit of Federal Tax Related Matters for all EA ( Course No. GEHNZ-T-00640-21-O )
  • 1 CE credit of for all Oregon Tax Preparer ( Course No. GEHNZ-T-00640-21-O )
  • 1 CE credit of for all CTEC ( Course No. 6273-CE-0609 )
  • 1 CE credit of for all Maryland Tax Preparer ( Course No. GEHNZ-T-00640-21-O )

Subject Area:

Taxes,Federal Tax Related Matters

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

Advance Preparation:

Jason Dinesen
Jason Dinesen

EA, LPA

Date

Oct 22nd, 2021

Time

02:00 PM – 03:00 PM
1 Credits

Form 1099-R

Whether you’re operating a business domestically or internationally, in order to succeed, you need quality team members to get the job done. Paying those workers as independent contractors, however, can be risky if your company is operating in foreign markets. There are many factors to consider when paying foreign contractors if you want to stay in compliance, minimize operational costs and keep valued contractors happy on the job.

While there are many types of 1099 forms, they all serve the same purpose; they are used by taxpayers to provide information to the Internal Revenue Service (IRS)

In this online CPE session, we will discuss all listed situations that leads to filing of form 1099:

  • Rental Activities
  • Rental real estate enterprise
  • Loans and interest payments
  • Payments to foreign contractors

Learning Objectives

  • To discuss about the 80-year-old question of whether rental activity is a business
  • To identity the key factors in Revenue Procedure 2019-38
  • To discuss about loans from shareholders and properly reporting interest payments
  • To identify key concepts relating to foreign contractors
  • 1 CE credit of for all AFSP
  • 1 CPE credit of Taxes for all CPA (US)
  • 1 CE credit of Federal Tax Related Matters for all EA ( Course No. GEHNZ-T-00714-21-O )
  • 1 CE credit of for all Oregon Tax Preparer ( Course No. GEHNZ-T-00714-21-O )
  • 1 CE credit of for all CTEC ( Course No. 6273-CE-0669 )
  • 1 CE credit of for all Maryland Tax Preparer ( Course No. GEHNZ-T-00714-21-O )

Subject Area:

Taxes,Federal Tax Related Matters

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

Advance Preparation:

Frequently Asked Questions

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The duration of this event can be seen below its title. The credits for this conference/workshop are also mentioned below the title.

The Specific Takeaways and the purpose of this event is mentioned in the ‘Overview’ and ‘Session Details’. Additionally, by attending a Live Virtual Event you can experience the interactivity equivalent to an in-person conference without having to leave your screens or risk your lives especially post pandemic situations. Nevertheless, bulk CPE/CE is an icing on the cake.

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There is an official break scheduled for this workshop/events. Other than the scheduled break, the in-session breaks shall be available at discretion of the speaker.

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Conference: A virtual conference is an activity, organised in a way that participants can meet and discuss themes of common interest through the use of communication tools at a central location on the Internet

Workshop: A workshop is not very different from a conference. The key point that makes a workshop unique is that it is a brief intensive educational program for a relatively small group of people that focuses especially on techniques and skills in a particular field.

The myCPE virtual events are designed to impart education around a specific theme or subject from a basic to an advanced level, which is why we do not recommend you to leave the event in between. However, if you had to leave the event because of some unforeseen circumstances, you would be granted the credits for the sessions that you attended completely and wherein you answered all the polling questions.

The recording of the event can be made available to you, on request. You can reach out to us at support@my-cpe.com or can also let us know through live chat support if you need a recording for this event. However, the recording shall not be available for Continuing Education Credits.

You can cancel your registration for a premium conference/workshop at any time before the start of the event. Upon successful cancellation the entire amount shall be credited to your myCPE wallet within 24-48 working hours. The balance in your myCPE wallet can be used to register for premium live webinars, premium self-study webinars, myCPE package courses or any other future virtual conference/workshop.

All the upcoming virtual events can be seen listed under the ‘Virtual Events’ tab on the homepage of myCPE (www.my-cpe.com).

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myCPE recommends that you verify if your digital device is compatible with the ZOOM software prior to attending the live events on myCPE (www.my-cpe.com)

For every Session you attend in a Virtual Event, you need to remain logged into the session till the end and answer the polling questions asked during the event. Once you have fulfilled these two criteria, you shall receive an evaluation form in the next 24 hours. You will receive an email with the link to complete the evaluation form and it will also be available in your myCPE account under the 'My Virtual Events’ section, under the 'Pending Evaluation' tab. Once you complete the evaluation form, you will receive an email with your credit certificates and the same shall also be available in your myCPE account under the 'My Certificates' tab. The link in the certificate email is for downloading the certificates. If the event qualifies for multiple certificates, each certificate will be available for download.

Once you complete the evaluation form, you will receive an email with your credit certificates and the same shall also be available in your myCPE account under the 'My Certificates' tab. The link in the certificate email is for downloading the certificates. If the event qualifies for multiple certificates, each certificate will be available for download

During every conference the chat panel shall always be open. You can mention the issue faced by you in the chat panel and our moderator will take it up for resolution shortly. You can also reach out to our support team in the live chat support or at support@my-cpe.com

Yes, each live virtual conference/workshop shall be recorded and the recording of the same can be made available to on request. However, the recording shall not be eligible for continuing education credits.

If you’re a new user, you will have to sign-up at www.my-cpe.com to register for a virtual event. Click Here for a free sign up to myCPE. If you’re an existing user, you need to log in to your myCPE account.

Once you’re logged into your myCPE account, you can click on the ‘Virtual Event’ tab, scroll down to view the upcoming Virtual Events. There is a Register Button on each event detail page. Once you click on REGISTER, you will receive a prompt pop up that you have registered for the event. If it is a premium event then you will first be redirected to the payment page and after paying the amount you will receive a prompt pop up that you have registered for the event.

You can cancel your registration to any event from your myCPE account. Look under My Virtual Events >Upcoming Events. Simply click “Cancel Event” against the event that you do not wish to attend. If you cancel your registration for any paid event, the amount shall be credited in your myCPE wallet within 24-48 hours.