Form 1099 Reporting Requirements: What Employers Need to Know for Timely, Compliant Filing
Deadlines and instructions for 1099 forms have changed again, and it’s more important than ever that you understand what’s required.
With over a dozen different types of 1099s, keeping up with which form to use and where each payment goes can be exhausting for finance pros. And for tax year 2020, IRS revived Form 1099-NEC, so non-employee compensation is no longer reported in Box 7 of the 1099-MISC. Plus, changed deadlines for certain 1099s and additional requirements, like backup withholding, make the process all the more complex.
Join us for an information-packed workshop to learn best practices for navigating the latest Form 1099 reporting changes for 2020, along with practical, actionable compliance guidance.
In this 100-minute program, you’ll learn:
- What’s changed on Forms 1099 for 2020
- The latest reporting requirements you need to know to stay timely and compliant
- Keys to avoid penalty notices and increased costs for noncompliance
- A step-by-step review of Form 1099 reporting mechanics
- Online reporting trends and guidance
Program Highlights
You can’t afford to miss the latest updates and regulations for 1099 reporting! Learn the ins and outs of 1099 filing requirements for 2020 and walk away from this workshop prepared to skillfully take on the latest changes.
1099 Updates for 2020: What’s Changed, What’s Required
- The latest Form 1099 reporting requirements
- How to know when and what to report
- Backup withholding: When and what to withhold
- The Foreign Account Tax Compliance Act (FATCA) and its effects on W8s and 1042-S forms
Tips to develop an efficient Form 1099 reporting process
- A step-by-step review of Form 1099 reporting mechanics
- Electronic filing: Online reporting trends and guidance
- IRS’s TIN Matching System: The verification process
Keys to Reduce Penalties and Ensure Compliance
- What types of payments go into which boxes on 1099 forms
- Best practices for 1099 recordkeeping
- Policies and procedures that work under new IRS rules
- B Notices (CP2100s) and TIN Penalty Assessments (972CGs)
About the Speaker
Mark Schwartz has over 15 years of experience in state and federal payroll tax audits, collections and payroll consulting.
- As an auditor, Mark prided himself on his ability to educate his auditees on state and federal payroll tax requirements. Whatever issues he found during audits, he ensured the auditees knew how to comply and avoid disruptions in the future.
- Mark has a Masters in Business Administration and now uses his entertaining, helpful personality to help organizations prepare for payroll tax audits - whether they've already gotten a notice or are still hoping they don't!
Program Benefits
If you'd like this program customized for your organization, call us at 1-800-964-6033. We're certain we can fulfill your training needs, while making it fit in your budget!
Purchase This On-Demand Webinar
Form 1099 Reporting Requirements: What Employers Need to Know for Timely, Compliant Filing
A Note to Our Valued Attendees Impacted by COVID-19:
We understand that due to COVID-19, most people are working remotely and in multiple locations, so we're doing things a little different to accommodate such situations.
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