IRS Form 1099 Reporting: Compliance Requirements - SHRM & HRCI Accredited

Schedule Wednesday, November 20, 2019 || 10:00 AM PDT | 01:00 PM EDT
Duration 60 Mins
Level Basic & Intermediate
Webinar ID IQW19K1131

  • Introduction about 1099s/basic overview
  • Who files a 1099-MISC
  • Who receives a 1099-MISC
  • When do corporations get a 1099-MISC
  • Medical services and Form 1099-MISC
  • Employee vs. contractor: why is this important and how do you tell the difference?
  • Dealing with reimbursements to contractors
  • Form W-9 and why it is important, and how it relates to the 1099-MISC
  • Backup withholding
  • IRS notices
  • Due dates, how to file with the IRS, and penalties for late filing
  • Form 1099-K and its interaction with the 1099-MISC
  • Rental property and Form 1099-MISC
  • Using Form 1099-C (cancellation of debt) as a collection method

Overview of the webinar

Form 1099-MISC compliance is a surprisingly complicated compliance requirement for businesses and accountants. The requirements are always changing, and answers are seldom clear-cut. This course will de-mystify some of the tricky areas relating to Form 1099-MISC, such as when a 1099 should be issued and whether a worker is a contractor or an employee. The main focus of this presentation is on “box 7” (independent contractor pay) but we cover other 1099-MISC topics as well.

Who should attend?

  • HR Professionals
  • Office managers
  • CFOs and controllers
  • Tax preparers
  • Accountants
  • Accounts payable and accounting managers
  • Accounts payable processing professionals
  • Employers and Business owners
  • Public accountants, CPAs and Enrolled Agents
  • Purchasing managers and professionals

Why should you attend?

  • Learn how and when a 1099-MISC should be filed
  • Learn who receives a 1099-MISC
  • What is the difference between an independent contractor and an employee, and why is it important to classify workers properly?
  • Learn about due dates and penalties for late filing
  • Learn how to file with the IRS and when e-filing is required
  • Learn about the interaction between Form 1099-K and Form 1099-MISC
  • Do rental properties/landlords issue 1099s?

Faculty - Mr. Jason Dinesen

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.

Credits

ComplianceIQ is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for [1] PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.

HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org

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