Form 1099-MISC Year-End Compliance Update

Schedule Tuesday, November 24, 2020 || 10:00 AM PST | 01:00 PM EST
Duration 60 Mins
Level Basic & Intermediate
Webinar ID IQW20K1112

  • 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

What if you miss the Live Webinar?
Don't worry! Pay only $99 & get the full Recording.

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