Your Guide to 1099s & 1099-NEC: Reporting Requirements, Deadlines, and Common Pitfalls
Stay Compliant, Avoid Audits, and Master 1099-NEC Reporting!
Instructor :
Mark Schwartz
Webinar ID:
17683
Date: OCT 17, 2024 (THU)
Start Time: 10 AM PT - 11:15 AM PT
Duration: 75 Mins.
What will you learn
-
- Overview Of The 16 Types Of 1099 Forms And Uses
- Understand Criteria For Worker Classification: Independent Contractor Or Employee
- Review Updates To W-9 And W-8 Forms For Compliance
- Latest Changes To 1099-NEC, 1099-MISC, And Other Forms
- Clarify When And What Payments Need To Be Reported
- Step-By-Step Guide To 1099 Reporting Mechanics For Accuracy
- Learn Trends And Best Practices For Online 1099 Reporting
- Know The Critical Deadlines For ….
-
- Overview Of The 16 Types Of 1099 Forms And Uses
- Understand Criteria For Worker Classification: Independent Contractor Or Employee
- Review Updates To W-9 And W-8 Forms For Compliance
- Latest Changes To 1099-NEC, 1099-MISC, And Other Forms
- Clarify When And What Payments Need To Be Reported
- Step-By-Step Guide To 1099 Reporting Mechanics For Accuracy
- Learn Trends And Best Practices For Online 1099 Reporting
- Know The Critical Deadlines For Filing Forms On Time
- Discover Where To Find Additional Resources And Support For Compliance
Course Description
1099s are crucial for reporting payments to non-employee service providers, suppliers, and other business entities. But, are you sure you know which payments are reportable?
Can you identify all the types of service providers your organization works with? This webinar will help you understand the reporting thresholds and requirements for different types of payments.
Here’s what you’ll learn:
-
- 1099-NEC: Understand the new form introduced for the 2020 tax year, which replaces Box 7 payments on the 1099-MISC.
- Reporting Threshold: Learn about the low $600 threshold for reporting non-employee compensation, and why these payments must be reported to the IRS.
- Important Deadlines: The deadline to provide 1099s to payees and the IRS has shifted—find out how these changes impact your reporting process.
- Backup Withholding: Discover how backup withholding applies to certain payments and avoid the complications that can arise.
By attending this 75-minute session, you’ll gain clarity on which payments need to be reported and how to stay compliant with new deadlines. Join us to streamline your reporting process and avoid costly penalties!
Enroll Now!
1099s are crucial for reporting payments to non-employee service providers, suppliers, and other business entities. But, are you sure you know which payments are reportable?
Can you identify all the types of service providers your organization works with? This webinar will help you understand the reporting thresholds and requirements for different types of payments.
Here’s what you’ll learn:
-
- 1099-NEC: Understand the new form introduced for the 2020 tax year, which replaces Box 7 payments on the 1099-MISC.
- Reporting Threshold: Learn about the low $600 threshold for reporting non-employee compensation, and why these payments must be reported to the IRS.
- Important Deadlines: The deadline to provide 1099s to payees and the IRS has shifted—find out how these changes impact your reporting process.
- Backup Withholding: Discover how backup withholding applies to certain payments and avoid the complications that can arise.
By attending this 75-minute session, you’ll gain clarity on which payments need to be reported and how to stay compliant with new deadlines. Join us to streamline your reporting process and avoid costly penalties!
Enroll Now!
Why you should attend
1099 compliance is no longer just a year-end task; it has become a critical, ongoing process for businesses of all sizes.
With increasing IRS scrutiny and shifting regulations, even small errors in reporting can lead to hefty penalties and audits that drain your time and resources.
This webinar will arm you with the up-to-date knowledge and practical tools to ensure you are fully compliant and avoid common pitfalls.
By attending, you will:
-
- Gain confidence in your ability to set up an efficient, streamlined Form 1099 reporting process that works under the latest IRS guidelines.
- Understand new 1099-NEC requirements: Make sure you’re capturing all necessary payments and reporting them on time, especially given the tightened deadlines.
- Minimize penalty risks: Learn how to apply the best practices for preventing fines by implementing correct backup withholding procedures and ensuring accurate TIN matching.
- Master worker classification: Understand the crucial difference between independent contractors and employees to protect your business from costly misclassification errors.
- Stay ahead of IRS notices and assessments: Learn how to handle B-Notices (CP2100) and avoid TIN Penalty Assessments (972CG) that could cripple your business.
This 75-minute session will give you the knowledge and skills you need to solve real-world compliance issues in your job role, safeguard your organization from financial risk, and stay on top of ever-evolving regulations.
Don’t miss this opportunity to take control of your 1099 reporting process before the next filing season hits!
Join Now!
1099 compliance is no longer just a year-end task; it has become a critical, ongoing process for businesses of all sizes.
With increasing IRS scrutiny and shifting regulations, even small errors in reporting can lead to hefty penalties and audits that drain your time and resources.
This webinar will arm you with the up-to-date knowledge and practical tools to ensure you are fully compliant and avoid common pitfalls.
By attending, you will:
-
- Gain confidence in your ability to set up an efficient, streamlined Form 1099 reporting process that works under the latest IRS guidelines.
- Understand new 1099-NEC requirements: Make sure you’re capturing all necessary payments and reporting them on time, especially given the tightened deadlines.
- Minimize penalty risks: Learn how to apply the best practices for preventing fines by implementing correct backup withholding procedures and ensuring accurate TIN matching.
- Master worker classification: Understand the crucial difference between independent contractors and employees to protect your business from costly misclassification errors.
- Stay ahead of IRS notices and assessments: Learn how to handle B-Notices (CP2100) and avoid TIN Penalty Assessments (972CG) that could cripple your business.
This 75-minute session will give you the knowledge and skills you need to solve real-world compliance issues in your job role, safeguard your organization from financial risk, and stay on top of ever-evolving regulations.
Don’t miss this opportunity to take control of your 1099 reporting process before the next filing season hits!
Join Now!
Areas Covered
-
- Overview of the 16 Types of 1099s: Learn when to use each form and what types of payments are reportable on them.
- Worker Classification: Understand the criteria for classifying workers as independent contractors versus employees, and avoid costly misclassification errors.
- New W-9 and W-8 Forms: Get up to speed on the latest updates to these critical forms used for tax identification and withholding purposes.
- Latest Updates on Form 1099-NEC and 1099-MISC: Learn about any changes to reporting requirements and other 1099 forms to ensure full compliance.
- When and What to Report: Gain clarity on the key payments that must be reported and the thresholds for each.
- Step-by-Step 1099 Reporting Process: A detailed walk-through of the reporting mechanics to help you file accurately and efficiently.
- Online Reporting Trends: Stay updated on the latest trends in online reporting and learn how to submit forms electronically.
- Key Deadlines and Resources: Learn the critical deadlines for filing, and where to find additional information and support.
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.
-
- Overview of the 16 Types of 1099s: Learn when to use each form and what types of payments are reportable on them.
- Worker Classification: Understand the criteria for classifying workers as independent contractors versus employees, and avoid costly misclassification errors.
- New W-9 and W-8 Forms: Get up to speed on the latest updates to these critical forms used for tax identification and withholding purposes.
- Latest Updates on Form 1099-NEC and 1099-MISC: Learn about any changes to reporting requirements and other 1099 forms to ensure full compliance.
- When and What to Report: Gain clarity on the key payments that must be reported and the thresholds for each.
- Step-by-Step 1099 Reporting Process: A detailed walk-through of the reporting mechanics to help you file accurately and efficiently.
- Online Reporting Trends: Stay updated on the latest trends in online reporting and learn how to submit forms electronically.
- Key Deadlines and Resources: Learn the critical deadlines for filing, and where to find additional information and support.
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!
-
- Accounting Manager
- Payroll Manager
- Tax Compliance Officer
- HR Manager
- Finance Director
- Controller
- Accounts Payable Manager
- Business Owner/Entrepreneur
- Compliance Specialist
Maximize The Learning Experience in A Group Setting!
-
- Accounting Manager
- Payroll Manager
- Tax Compliance Officer
- HR Manager
- Finance Director
- Controller
- Accounts Payable Manager
- Business Owner/Entrepreneur
- Compliance Specialist
Instructor Profile
Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations. He is expert at defining regulatory and statutory requirements from local, State and Federal government agencies; and helping the average businessperson understand what that means to their business. He has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits.
Mr.Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Mark has represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting your employees.
Mark prides himself on his outstanding customer service skills. He listens attentively to his clientele, helping them bridge the gap between the small business world and Government bureaucracy. He eagerly assists with clients needs and feels that educating clients toward faster, accurate and more complete payroll processes provide the most value.
Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.
