This webinar will cover changes in the 1099 world for 2020. For the first time in many years, significant changes are coming to the Form 1099-MISC, in particular with how contract labor pay is reported. Businesses will no longer use the 1099-MISC to report contract labor pay, but will instead use Form 1099-NEC, a form last seen in 1982 that is being brought back into use by the IRS. This webinar will cover the scenarios where a 1099-MISC or 1099-NEC needs issued, and the scenarios where reporting is not required. We will also cover the Form 1099-K and how it interacts with the 1099-MISC and 1099-NEC. The electronic filing mandate is changing as well and is dropping, so more businesses will fall under the e-file mandate. Penalties will apply for not complying. We will cover the e-filing mandate, other penalty situations, and how to potentially get out of penalties.
The Form 1099-MISC is changing in 2020, and a new form is being introduced. Be prepared for new compliance obligations by taking this webinar. Starting in 2020, contract labor will no longer be reported on a 1099-MISC but instead will be reported on a Form 1099-NEC. Learn about those changes and how to stay compliant by taking this webinar. We will also cover the scenarios where a 1099-MISC or 1099-NEC needs issued … and when one does NOT need issued.
Jason Dinesen is the President of Dinesen Tax & Accounting, P.C., a public accounting firm in Indianola, Iowa. His practice focuses on tax and accounting services for small businesses and individuals. Dinesen has extensive experience working with a third-party administrator of retirement plans and is a prior presenter of multiple 1099 seminars. Dinesen majored in corporate communications with a minor in management from Simpson College. He started his practice in 2009.
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