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IRS Form 1099 Reporting: What You Need to Know Seminar

Lorman Education Seminars

Bring this seminar on-site to your facility for groups of 10 or more.

IRS Form 1099 Reporting

Course Description/Agenda

Benefits
Tackle 1099 reporting requirements and increase your filing savvy. Independent contractors save your business money, but increasing IRS scrutiny can put you at risk. Fail to meet all the 1099 filing requirements, and you may land in a hotbed of penalties. With a maze of 1099 forms, and confusing and ever-changing IRS reporting guidelines, mastering the 1099 can be a daunting task for any business. Attend this informative seminar and sharpen your 1099 savvy. Develop better, more accurate reporting skills – keep your business audit-ready and in compliance. Determine a worker’s status without hesitation – every time – and stay current and in the clear. Benefits for You • Tackle your 1099-MISC questions • Perfect your backup withholding rules know-how • Pinpoint when to issue a W-2 or 1099 form • Confidently correct errors – subdue even the toughest filing mistakes Learning Objectives • You will be able to identify reporting fees and other reporting requirements. • You will be able to explain the various 1099 forms. • You will be able to discuss Form 1099-MISC in detail. • You will be able to review Form 1096.

Agenda
8:00 AM - 8:30 AM Registration

8:30 AM - 9:40 AM The What's of 1099s
• Purpose of 1099s
• Who Must File?
• Identity Theft and Reporting Identity Theft
• Common Errors Including the Completion of a W-9
• What If a 1099 Is Issued Incorrectly?

Reporting Fees Paid
• Informers
• Scholarships
• Corporations
• Attorneys
• Death of an Employee

Various Reporting
• Royalties
• Rent
• Prizes
• Awards

9:40 AM - 9:50 AM Break

9:50 AM - 12:00 PM When the 11 Varieties of 1099s Are Issued
• Subcontractor or Employee
• Behavioral, Relationship and Financial Control of Subcontractor vs. Employee
• 1099-B Including U.S. Treasury Form-D and 8949
• What's New With Form 1099-K

12:00 PM - 1:00 PM Lunch (On Your Own)

1:00 PM - 2:30 PM Form 1099-MISC
• Usage of Form 1099-MISC
• Voluntary Classification Settlement Program Form 1099-Q
• Form 1099-S

2:30 PM - 2:40 PM Break

2:40 PM - 4:30 PM The Where of 1099s
• Form 1096
• Extension to File
• Where to File
• Correcting Returns
• Penalties
• Backup Withholding

Faculty
Mark Goodson, Accounting Professionals

Credits
CPP/FPC ,CAC 1.0 ,CFP 8.0 ,Enrolled Agents 8.0 ,CPE 8.0 including Taxes 8

More Seminar Information

Lorman Education Services
Course Summary	IRS Form 1099 Reporting
Delivery Method	Seminar
Also Available As	On-Site Training
Who Should Attend	This seminar is designed for accountants, CFOs, controllers, accounts payable professionals, tax managers, enrolled agents, presidents, vice presidents and bookkeepers.