This 90-minute Form 1099 compliance webinar explains what must be reported on Forms 1099-MISC and 1099-NEC and walks through preparing each form correctly. It reviews updates to the forms and how electronic filing methods and requirements are changing.
You'll compare filing options, including the IRIS (Information Return Intake System) portal, the FIRE (Filing Information Returns Electronically) system, third-party filing and paper returns. The session explains reporting rules for different types of payments and payees, filing and withholding requirements, and reporting guidelines.
It also covers due dates, penalties for late filed and late furnished returns, penalty exceptions, how to show reasonable cause for penalty abatement, and best practices to prevent and reduce penalties.
The IRS is adding technology and staff to target information reporting compliance, and penalties are indexed and rise each year. Final regulations also cut the e-filing threshold for information returns from 250 forms to 10. Filers need to know which form to use, deadlines, how to make corrections, when backup withholding applies and which due diligence steps shield them from penalties.
It suits CFOs, controllers, AP and accounting staff, purchasing managers, business owners, CPAs and enrolled agents.
The IRS is adding technology and staff to target information reporting compliance, and penalties are indexed and rise each year. Final regulations also cut the e-filing threshold for information returns from 250 forms to 10. Filers need to know which form to use, deadlines, how to make corrections, when backup withholding applies and which due diligence steps shield them from penalties.
It suits CFOs, controllers, AP and accounting staff, purchasing managers, business owners, CPAs and enrolled agents.
Patrick Haggerty
Patrick Haggerty 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. He has written numerous articles and a monthly question and answer column for payroll publications. In addition, he regularly develops and presents webinars and presentations on a variety of topics including Payroll tax issues, FLSA compliance, information returns, and accounting.
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