New Form 1099-K Reporting Requirements for 2023
Form 1099-K is used to report payments made by payment cards and third-party networks. The reporting thresholds for Form 1099-K have significantly changed for 2023, impacting payors and recipients of these forms.
Both parties must be prepared to comply with these changes in order to avoid costly penalties. Join us for this informative, 60-minute event for practical, actionable compliance guidance on new Form 1099-K reporting requirements.
- What’s changed on Form 1099-K & latest reporting requirements
- The types of payments that get reported on Form 1099-K
- Who is responsible for producing the Form 1099-K
- What recipients of the Form 1099-K need to know
- How to avoid penalties for non-compliance
The New 1099-K Reporting Requirements
- New 2023 reporting thresholds and limits
- The types of payments to report on Form 1099-K
- What is reported (and when) on Form 1099-K
- Who is responsible for producing Form 1099-K
- Impacts to payors and payment recipients
- Should you be receiving a 1099-K?
Form 1099-K Best Practices to Ensure Compliance
- How to handle an incorrect Form 1099-K
- Latest reporting requirements to stay compliant
- Tips to avoid IRS penalties and notices
- Form 1099-K recordkeeping guidelines
- Process for accurate electronic filing
Question & Answer Session – Have your specific question answered!
About the Speaker
Tricia Richardson, CPP, SPHR, SHRM-SCP provides clients with direct payroll assistance, information, education, consultation, and even empathy, in her role as a Consultant.
- Tricia has more than 25 years of experience in all aspects of workforce management (payroll processing, taxation, employee handbooks, human resources, benefits, etc.). Tricia is a Payroll and Human Resource “nerd” who enjoys reading Internal Revenue Code.
- Tricia has a Bachelor of Science in Management Studies from the University of Maryland University College. She is a Certified Payroll Professional (CPP) through the American Payroll Association (APA), a Senior Professional in Human Resources (SPHR) through the HR Certification Institute, as well as a Society for Human Resource Management Senior Certified Professional (SHRM-SCP).
- Tricia is a Member of the National Speakers Bureau for the American Payroll Association and a Contributing Writer to Paytech Magazine, a regular periodical provided to over 20,000 Members.
In this 60-minute program, you’ll learn how to comply with the new Form 1099-K thresholds and reporting requirements, plus guidelines to steer clear of penalties.
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!
Premier Learning Solutions is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP® or SHRM-SCP®. This program is valid for 1 PDCs for the SHRM-CP® or SHRM-SCP®. For more information about certification or recertification, please visit www.shrmcertification.org.
This program has been approved for 1 (HR (General)) recertification credit hour toward aPHRTM, aPHRiTM, PHR®, PHRca®, SPHR®, GPHR®, PHRiTM and SPHRiTM recertification through the HR Certification Institute. Learn more at hrci.org