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IRS Form 1099 Reporting Update for 2021

Event Details

IRS Form 1099 Reporting Update for 2021

Time: December 7, 2020 from 1pm to 2:30pm
Location: Online Event
Street: Ijona Services LLC 364 E Main Street, Suite 1009, Middletown, DE 19709, USA
City/Town: Middletown
Website or Map:
Phone: 7172088666
Event Type: ijona, services, llc, 364, e, main, street, suite, 1009, middletown, de, 19709, usa
Organized By: Lakshmi Narayana
Latest Activity: Dec 2, 2020

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Event Description

Topic : IRS Form 1099 Reporting Update for 2021

Register :

Offer : (10% Off) On New Signup

This webinar will discuss reporting 2020 information as required on Forms 1099-MISC and 1099-NEC in early 2021 as well as expected updates to the forms for reporting 2021 information. New for 2020, non-employee compensation will be reported on Form 1099-NEC instead of Form 1099-MISC.

Areas Covered in the Session :

Information Returns: 2020 update to Form 1099-MISC; New Form 1099-NEC
Information Returns: What they are and using the Guide to Information Returns
Forms 1099-MISC, 1099-NEC and 1096: Identification of reportable payments and payees
Common 1099 errors - how to prevent them and how to correct them
Taxpayer identification number basics: Which number to use
Form W-9: documentation that establishes reportable and non-reportable payees
Due diligence procedures avoid or mitigate penalties
How to handle missing or incorrect payee tax ID numbers
"B" notice procedures: When to issue and how to follow-up
Using the IRS TIN verification system to avoid IRS notices
Backup withholding requirements and procedures
Penalties for late or incorrect 1099 Form
Procedures and policies that establish "reasonable cause" and avoid penalties

Speaker Profile :

Patrick Haggerty is Keynote Speaker at ComplianceKey. He is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice. He began teaching accounting at the college level in 1988. He is licensed as an Enrolled Agent by the U. S. Treasury to represent taxpayers at all administrative levels of the IRS and is a Certified Management Accountant.

Contact Info :
Compliance Key
Email :
Phone : +1 717-208-8666

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