The 1099 & W-9 Annual Update Course

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Category 1099 IRS rules; 1099 rules training ; Form 1099 INT Instructions

Deadline: January 23, 2018 | Date: January 23, 2018

Venue/Country: Training Doyens 26468 E Walker Dr,Aurora, Colora, U.S.A

Updated: 2018-01-08 14:17:25 (GMT+9)

Call For Papers - CFP

For years the IRS has struggled with the independent contractor and tax collection. In assessing opportunities to close the tax gap (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 time consuming reporting obligation can be streamlined in a number of ways. Join us to learn more.

WHY SHOULD YOU ATTEND

Learn the rules requiring W-9 documentation and 1099 reporting for various types of Forms 1099 including interest, dividends, PATR, real estate transactions, and the famous Form 1099-Misc.

Learn how to establish the independent contractor relationship with the right documentation.

Understand the rules and keep your company in compliance.

Ensure that your records will stand the scrutiny of an IRS 3rd Party Documentation and Reporting audit.

Avoid the onerous penalties for noncompliance and build the best defense against the 972-CG Notice of Proposed Penalty Letter.

AREAS COVERED

In just ninety minutes you will gain the following insights:

Starter Question: How can we best set up an independent contractor in our vendor payment system to ensure compliance with the IRS reporting rules?

Protocols for setting up new payees and vendors (ICs)

When to require a Form W-9 v. Form W-4 v. Forms W-8

How 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)

When and how to handle back-up withholding

When signatures are required on Form W-9

Update on the latest changes to the forms, deadlines and penalties

When you must electronically file your information returns

How to set up electronic reporting to your payees

Form 1099-Misc – detailed guidelines for proper use and classification of diverse payments on this form

How Merchant Card reporting on Form 1099-K affects your reporting on credit card payments

How FATCA affects information reporting for U.S. persons

Best practices for filing 1099s with the IRS – TIP: never file early!

The government wants to remove the exemptions – what this means to you?

LEARNING OBJECTIVES

What are the rules regarding paying and IRS reporting for 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? Get the answers to these and related questions to reduce your risk of huge penalties from the IRS.

WHO WILL BENEFIT

Bank Managers

Compliance Officers

Information Reporting Officers

Tax Managers

CFOs

Controllers

Accounting Managers

Auditors

IT Managers

Compliance Managers

Risk Managers

All types of entities including For Profit, Not for Profit, Government (Federal and State) – everyone who hires an independent contractor has reporting obligations

AICPA, CGMA, IOMA, TAPN

SPEAKER

Miles Hutchinson is a CGMA (Chartered Global Management Accountant) 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 2,000 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 has over 35 years of practical experience in strategic planning, analysis and reporting. He is the author of several useful reporting and tax tools. 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.

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PRICE :$199