TIN Matching to Reduce Your B-Notices and Eliminate Proposed Penalties

On-Demand Schedule Sun, October 25, 2020 - Sun, November 01, 2020
Duration 90 Mins
Level Basic & Intermediate & Advanced
Webinar ID IQW20J1009

Do you know the answers to these questions

  • Starter Question: What is TIN Matching
  • Who must request access to the TIN Match system
  • How do we register to use the system
  • How does the TIN Match system work
  • What are the best practices for managing 1099 reporting requirements
  • How do I deal with vendors who report incorrect information on their W-4’s
  • B-Notices: when I receive a letter from the IRS stating I have incorrect names/TINS on my 1099’s, what must I do and what about the deadlines
  • What if I receive a Notice of Proposed Penalty

Overview of the webinar

For many years, the IRS has placed the burden on businesses, non-profits, and not-for-profits as well as all levels of government to report information about taxable payments they make to their vendors and customers.  To more accurately match our information reporting to taxpayer’s tax returns, they have introduced an “e-services” portal to help us ensure the names and tax identification numbers provided to us by our payees match their records. When used properly, this system can reduce the risk of warning letters (CP-2100s/B-Notices) and penalty notices (972-CGs) from the IRS. Learn the best practices for eliminating 1099 error notices from the IRS. Discover the power of the TIN Matching system. Learn how to handle the CP-2100 notices from Uncle Sam and avoid the fines & penalties for failure to timely comply with the B-Notice requirements. Understand the difference between and 1st and 2nd B-Notice and the related differences in required vendor responses.  Be sure you institute and stop Backup Withholding when required. Join us for a content-rich 2-hours and you will gain the tools to make you the most effective information return manager your company has ever seen.

Who should attend?

  • CFOs
  • Controllers
  • Compliance Managers
  • Accounting Managers
  • Accounts Payable Managers
  • Any institution that makes reports on forms 1099-INT, 1099-B, 199-DIV, 1099-PATR, & 1099-MISC

Why should you attend?

How do you know your vendor’s W-9’s are correct?  What are the consequences of filing incorrect names and ID numbers on their 1099’s? In just 90 minutes, you can begin to develop a solid plan to move your company toward near-absolute regulatory compliance, efficiency improvements, standardized processes, & adequate documentation to ensure your 1099’s contain accurate information that will agree with the IRS’s records.  You will all but eliminate your B-Notices from the IRS!

Faculty - Mr. Miles Hutchinson

Miles Hutchinson is a CGMA and experienced businessman. He has been an auditor with PriceWaterhouseCoopers and the Chief Financial Officer of a $1 billion real estate development company. Miles is a highly sought after professional speaker and consultant who has presented over 1000 seminars and training sessions on a myriad of business and financial topics, such as financial analysis and modeling, accounting matters, strategic planning, and compliance with the Sarbanes-Oxley Act. His clients include Abbott Labs, Citicorp, the FBI, GE, Pfizer and the US Marine Corps.

Credits

ComplianceIQ is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for [1.5] 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

10-20-2020 - TIN Matching to Reduce Your B-Notices and Eliminate Proposed Penalties.pdf
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