Information return reporting changed significantly when the IRS moved nonemployee compensation from Form 1099-MISC to Form 1099-NEC, beginning with 2020 payments. This 60-minute Form 1099 reporting webinar explains how to report correctly on both forms.
You'll review what information returns are and how to use the Guide to Information Returns, how to identify reportable payments and payees on Forms 1099-MISC, 1099-NEC and 1096, filing and furnishing due dates, withholding requirements and reporting guidelines, and how to document independent contractors as reportable or non-reportable.
The session also covers penalties for late or incorrect returns and ways to prevent or reduce them, including the de minimis safe harbor, the reasonable cause defense, TIN verification, backup withholding, B-notices, payment card rules and correcting errors.
The IRS actively targets accounts payable operations, and indexed penalties rise each year. Practitioners need to know which form to use, when it is due, what to include, how to correct it, whether backup withholding applies, and which due diligence steps protect them even when a form has errors.
This session suits CFOs and controllers, accounts payable and accounting managers and processors, employers, business owners, purchasing managers, public accountants, CPAs and enrolled agents.
The IRS actively targets accounts payable operations, and indexed penalties rise each year. Practitioners need to know which form to use, when it is due, what to include, how to correct it, whether backup withholding applies, and which due diligence steps protect them even when a form has errors.
This session suits CFOs and controllers, accounts payable and accounting managers and processors, employers, business owners, purchasing managers, public accountants, 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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