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Validity : 11th Apr'24 to 21st Apr'24
Form 1099-MISC Year-End Compliance Update
- Who must issue a 1099-MISC
- What payments are reportable
- Who receives a 1099-MISC
- IRS penalties for not filing
- How to get out of penalties
- Form 1099-NEC
- How to tell the difference between a contractor and an employee
- The interaction between Form 1099-K and Form 1099-MISC
- A brief discussion of rental activity and the Form 1099-MISC
Overview of the webinar
Determining w hen a Form 1099-MISC needs filed can be difficult, and IRS penalties can make the situation even more complicated. This course will cover how to navigate when a 1099-MISC needs issued, who to send a 1099-MISC to, and how to deal with potential penalties. We will also discuss how payments made with a credit or debit card do not need a 1099-MISC issued. Also covered will be a new form — Form 1099-NEC — that will be used starting in 2021 for contract labor payments.
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 compliance tips for 2020 filings of Form 1099-MISC
- Learn about major changes coming to the reporting of independent contractor pay, including a new form to use for 2021
- Learn about the interaction between Form 1099-K and Form 1099-MISC, and how a 1099-MISC may not always need issued if the transaction falls under the 1099-K rules
- Learn how to tell the difference between a contractor and an employee, and why it is important
- Learn about the importance of Form W-9
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