Mastering Backup Withholding: Ensuring 1099 Compliance & Avoiding IRS Penalties
Stay Compliant, Prevent IRS Audits, and Manage 1099 Backup Withholding!
Instructor :
Jason Dinesen
Webinar ID:
19582
Date: MAR 03, 2025 (MON)
Start Time: 10 AM PT - 11:00 AM PT
Duration: 1 Hr.
What you will learn
-
- Understand When And Why Backup Withholding Is Required
- Apply IRS Guidelines To Ensure Proper 1099 Compliance
- Correctly Handle CP-2100 Letters And B Notices
- Accurately Report Backup Withholding Using Form 945
- Avoid Common Mistakes That Lead To IRS Penalties
- Implement Best Practices For Collecting And Verifying TINs
- Learn Audit Triggers And How To ….
-
- Understand When And Why Backup Withholding Is Required
- Apply IRS Guidelines To Ensure Proper 1099 Compliance
- Correctly Handle CP-2100 Letters And B Notices
- Accurately Report Backup Withholding Using Form 945
- Avoid Common Mistakes That Lead To IRS Penalties
- Implement Best Practices For Collecting And Verifying TINs
- Learn Audit Triggers And How To Stay IRS-Compliant
- Analyze A Real-World $1.2 Million Penalty Case
Course Description
Backup withholding is often an overlooked yet crucial aspect of 1099 compliance. Many organizations fail to correctly identify when and how to apply it, leaving them vulnerable to IRS penalties, fines, and compliance risks.
This course is designed to provide a clear, practical understanding of backup withholding, ensuring your organization stays compliant and avoids costly mistakes.
In this comprehensive 60-minute training, our expert speaker will break down key IRS requirements, common pitfalls, and best practices to help you effectively manage backup withholding. You will gain step-by-step guidance on when to apply withholding, how to handle payments correctly, and how to prevent compliance risks before they arise.
Key Learning Outcomes
-
- Understand the IRS rules governing backup withholding and 1099 reporting
- Identify situations that require backup withholding and avoid common mistakes
- Ensure proper compliance with IRS regulations to prevent penalties
- Streamline processes for managing contractor payments and IRS reporting
- Learn best practices to safeguard your organization’s tax reporting accuracy
Stay ahead of IRS compliance requirements and gain confidence in handling backup withholding effectively.
Join us for this essential training and master the missing piece of the 1099 world!
Enroll Now!
Backup withholding is often an overlooked yet crucial aspect of 1099 compliance. Many organizations fail to correctly identify when and how to apply it, leaving them vulnerable to IRS penalties, fines, and compliance risks.
This course is designed to provide a clear, practical understanding of backup withholding, ensuring your organization stays compliant and avoids costly mistakes.
In this comprehensive 60-minute training, our expert speaker will break down key IRS requirements, common pitfalls, and best practices to help you effectively manage backup withholding. You will gain step-by-step guidance on when to apply withholding, how to handle payments correctly, and how to prevent compliance risks before they arise.
Key Learning Outcomes
-
- Understand the IRS rules governing backup withholding and 1099 reporting
- Identify situations that require backup withholding and avoid common mistakes
- Ensure proper compliance with IRS regulations to prevent penalties
- Streamline processes for managing contractor payments and IRS reporting
- Learn best practices to safeguard your organization’s tax reporting accuracy
Stay ahead of IRS compliance requirements and gain confidence in handling backup withholding effectively.
Join us for this essential training and master the missing piece of the 1099 world!
Enroll Now!
Why you should attend
Backup withholding is often misunderstood and overlooked, yet failing to comply can lead to significant IRS penalties and financial risks.
The IRS flags over 400,000 instances of businesses failing to apply backup withholding each year—could your organization be at risk?
This course is designed to help you avoid costly mistakes and stay ahead of compliance requirements. Whether you’re a tax professional, payroll specialist, or business owner, understanding when and how to implement backup withholding is critical to ensuring accurate 1099 reporting and preventing IRS scrutiny.
In This Training, You Will Learn
-
- When backup withholding is required and how to identify at-risk payments
- How to handle CP-2100 letters and B Notices to avoid non-compliance
- The correct way to report backup withholding on Form 945
- Real-world lessons from IRS cases, including a business hit with a $1.2 million penalty for failing to withhold
Don’t let a simple oversight turn into a costly financial burden.
Join us and gain the knowledge you need to protect your organization!
Join Now!
Backup withholding is often misunderstood and overlooked, yet failing to comply can lead to significant IRS penalties and financial risks.
The IRS flags over 400,000 instances of businesses failing to apply backup withholding each year—could your organization be at risk?
This course is designed to help you avoid costly mistakes and stay ahead of compliance requirements. Whether you’re a tax professional, payroll specialist, or business owner, understanding when and how to implement backup withholding is critical to ensuring accurate 1099 reporting and preventing IRS scrutiny.
In This Training, You Will Learn
-
- When backup withholding is required and how to identify at-risk payments
- How to handle CP-2100 letters and B Notices to avoid non-compliance
- The correct way to report backup withholding on Form 945
- Real-world lessons from IRS cases, including a business hit with a $1.2 million penalty for failing to withhold
Don’t let a simple oversight turn into a costly financial burden.
Join us and gain the knowledge you need to protect your organization!
Join Now!
Areas Covered
1. Introduction to Backup Withholding
-
- What is backup withholding, and why is it important?
- How backup withholding fits into 1099 compliance and IRS reporting
2. When and Why Backup Withholding is Required
-
- Key situations requiring backup withholding, including:
-
- Missing or incorrect taxpayer identification numbers (TINs)
- Failure to respond to IRS CP-2100 and B Notices
-
- Key situations requiring backup withholding, including:
-
- Common mistakes businesses make and their consequences
3. How to Implement Backup Withholding
-
- Steps to properly apply backup withholding when required
- Best practices for collecting and verifying TINs
- Proper use of Form W-9 to prevent withholding issues
4. Reporting Backup Withholding to the IRS
-
- Understanding Form 945 and how to complete it correctly
- Ensuring accurate and timely filing to avoid penalties
5. IRS Audits, Court Cases, and Compliance Risks
-
- How the IRS identifies non-compliance and initiates audits
- Real-world case study: A $1.2 million penalty case and lessons learned
- What to do if your business is flagged for non-compliance
6. Best Practices for Staying Compliant
-
- Proactive strategies to minimize risks and avoid penalties
- Key takeaways and next steps for implementation
BONUS:
-
- PDF copy of the presentation handout for your future reference.
- Soft copy of the certificate of completion on request.
- Q&A Session with the Presenter: Get your pressing questions answered verbally, via chat or email.
1. Introduction to Backup Withholding
-
- What is backup withholding, and why is it important?
- How backup withholding fits into 1099 compliance and IRS reporting
2. When and Why Backup Withholding is Required
-
- Key situations requiring backup withholding, including:
-
- Missing or incorrect taxpayer identification numbers (TINs)
- Failure to respond to IRS CP-2100 and B Notices
-
- Key situations requiring backup withholding, including:
-
- Common mistakes businesses make and their consequences
3. How to Implement Backup Withholding
-
- Steps to properly apply backup withholding when required
- Best practices for collecting and verifying TINs
- Proper use of Form W-9 to prevent withholding issues
4. Reporting Backup Withholding to the IRS
-
- Understanding Form 945 and how to complete it correctly
- Ensuring accurate and timely filing to avoid penalties
5. IRS Audits, Court Cases, and Compliance Risks
-
- How the IRS identifies non-compliance and initiates audits
- Real-world case study: A $1.2 million penalty case and lessons learned
- What to do if your business is flagged for non-compliance
6. Best Practices for Staying Compliant
-
- Proactive strategies to minimize risks and avoid penalties
- Key takeaways and next steps for implementation
BONUS:
-
- PDF copy of the presentation handout for your future reference.
- Soft copy of the certificate of completion on request.
- Q&A Session with the Presenter: Get your pressing questions answered verbally, via chat or email.
Who is this course for
Maximize the Learning Experience in A Group Setting!
-
- Payroll and Tax Compliance Professionals
- Finance and Accounting Managers
- HR and Benefits Administrators
- Small Business Owners and Entrepreneurs
- Accounts Payable and Receivable Specialists
- Corporate Tax and Legal Consultants
- Bookkeepers and Financial Analysts
- Auditors and IRS Compliance Officers
Maximize the Learning Experience in A Group Setting!
-
- Payroll and Tax Compliance Professionals
- Finance and Accounting Managers
- HR and Benefits Administrators
- Small Business Owners and Entrepreneurs
- Accounts Payable and Receivable Specialists
- Corporate Tax and Legal Consultants
- Bookkeepers and Financial Analysts
- Auditors and IRS Compliance Officers
Instructor Profile
Jason T. Dinesen, LPA, EA, is the President of Dinesen Tax & Accounting, P.C., a public accounting firm located in Indianola, Iowa. His practice primarily provides tax and accounting services to small businesses and individuals.
Dinesen brings a wealth of experience from his work with a third-party administrator of retirement plans and has been a presenter at numerous educational seminars.
He earned a degree in corporate communications with a minor in management from Simpson College.
Dinesen founded his practice in 2009, which became a public accounting firm in 2013. Since 2012, Jason has been delivering presentations on various tax topics and now regularly hosts webinars.
