This 90-minute Form 1099 webinar covers the reporting requirements for Forms 1099-MISC and 1099-NEC, with a focus on preparing the forms correctly. It reviews the changes made to the 2023 forms and the electronic filing rules for that period, including lower e-file thresholds and IRIS, the IRS Information Return Intake System, an online portal for filing 1099-series forms without special software.
You'll learn the reporting rules for different types of payments and payees, filing and withholding requirements, due dates, Form W-9 and TIN basics, and backup withholding and B notices.
The session also covers common 1099 errors and corrections, penalties for late or incorrect forms, payment card rules, and due diligence that can establish reasonable cause for penalty relief.
The IRS has been targeting information reporting compliance, and penalties are indexed and rise each year. Filers need to know which form to use, when it is due, what to include, how to correct errors, when backup withholding applies and which due diligence steps protect them from penalties.
This session suits CFOs, controllers, accounts payable and accounting staff, purchasing professionals, employers, business owners, CPAs and enrolled agents.
The IRS has been targeting information reporting compliance, and penalties are indexed and rise each year. Filers need to know which form to use, when it is due, what to include, how to correct errors, when backup withholding applies and which due diligence steps protect them from penalties.
This session suits CFOs, controllers, accounts payable and accounting staff, purchasing professionals, employers, 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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