IRS Form 1099 Reporting Update for 2021
January 28, 2021 - DE USCompliance Key
support@compliancekey.us
Phone:7172088666
Topic : IRS Form 1099 Reporting Update for 2021 Register : https://compliancekey.com/webinar/1735/irs-form-1099-Reporting-Update-2021/source_mqrd 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