AND -S SEMINAR 2023 - Complete 1099, TIN Matching, B-Notice, FATCA and Nonresident Alien 1042-S Compliance Update

Website https://www.complianceonline.com/80238SEM-prdsm?channel=ourglocal | Edit Freely

Category 1099 reporting, 1042-S reporting, FATCA

Deadline: January 26, 2023 | Date: January 26, 2023-January 27, 2023

Venue/Country: Online, U.S.A

Updated: 2022-12-07 00:31:00 (GMT+9)

Call For Papers - CFP

Are you in compliance with the regulations surrounding data collection, backup withholding and information reporting?

How do you determine whether you can accept a W-9 from someone or if you must request a W-8 instead?

What if you send them a 1099 when you should have sent them a Form 1042-S?

How will you deal with an IRS demand for the backup withholding you failed to deduct from a Nonresident Alien’s (NRA’s) payments?

This seminar will focus on addressing these issues and many more compliance and regulatory issues pertaining to IRS forms 1099 and 1042-S. It will also address compliance with Title 26, CFR 1402(b) & (c), employee v. independent contractor distinction, and 1441 (withholding of tax on nonresident aliens and foreign corporations) mandates.

In this two day workshop, participants will learn how to identify independent contractors and non-resident aliens. We will analyze case studies to:

Ensure you fully understand the most efficient process

Communicate effectively with the payee to obtain correct and properly executed Form W-8 or W-9 from the payee

Determine whether and how much must be subjected to backup withholding

Confirm whether the name and tax ID of the payee match the IRS databases

Expedite the handling of your B-Notices

Fight a notice of proposed penalty

In addition, attendees will learn the best method to process 1099 and 1042-S reporting to both your payees and the IRS using best practices.

Due to the enactment of the Foreign Accounts Tax Compliance Act (FATCA), the course will address issues related to the use of forms W-9 and W-8 to comply with both Chapters 3 and 4 of the internal revenue code.

Through case study analysis, the presenter will illustrate best practices to maximize the performance of your current system. Additionally, case studies will also explore how your management practices can be improved to help ensure complete regulatory compliance.