IRS Form 1099 Reporting Update for 2021

Topic : IRS Form 1099 Reporting Update for 2021

Register : https://compliancekey.com/webinar/1735/irs-form-1099-Reporting-Update-2021/source_ebrd

Offer : (10% Off) On New Signup

Overview:

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.

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.

Contact Info :

Compliance Key

https://www.compliancekey.com/

Email : support@compliancekey.us

Phone : +1 717-208-8666