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Validity : 21st Oct'21 to 31st Oct'21
This webinar will cover changes in the 1099 world for 2021. 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.
Form 1099-MISC is changing in 2021, and a new form is being introduced. Be prepared for new compliance obligations by taking this webinar. Starting in 2021, 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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