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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
Navigate the 1099 forms with ease – know which form you need to use. 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 • Survive 1099 reporting in lawsuits and settlements – learn what’s taxable and what’s not • Pinpoint when to issue a W-2 or 1099 form • Tackle your 1099-R and 1099-C questions • Root out when – and when not – to include a corporation in your payment Learning Objectives • You will be able to identify other common types of Form-1099s. • You will be able to describe the difference between an independent contractor vs. employee. • You will be able to discuss who must file a Form 1099-MISC. • You will be able to review the IRS Form 1099-MISC.

Agenda
8:00 AM - 8:30 AM Registration

8:30 AM - 8:45 AM Overview
— Michael P. Martin, EA

8:45 AM - 9:45 AM Other Common Types of 1099s
— Michael P. Martin, EA
• 1099-INT vs. 1098
• 1099-DIV
• 1099-R
• 1099-C vs. 1099-A
• 1099-K

9:45 AM - 9:55 AM Break

9:55 AM - 10:55 AM Independent Contractor vs. Employee
— Michael P. Martin, EA
• IRS Guidelines
• Safe Harbor
• Who Has Control?
• IRS and Misclassification

10:55 AM - 11:25 AM Miscellaneous
— Michael P. Martin, EA
• Preparation of Form W-9
• Backup Withholding

11:25 AM - 12:25 PM Lunch (On Your Own)

12:25 PM - 1:35 PM Form 1099-MISC
— Robert E. Hinske, CPA
• Who Must File
• Walk Through Preparation of Form 1099-MISC
• Categorizing Income
• Income and Nonincome Reporting
• Issuing vs. Receiving

1:35 PM - 1:45 PM Break

1:45 PM - 3:00 PM IRS Form 1099-MISC
— Robert E. Hinske, CPA
• Self-Employment Tax Consequences
• Remitter Responsibilities/Instruction for Payor and Payee
• Payment to Corporations
• Reporting for Settlements or Punitive Damage Awards
• Gross Proceeds Paid to Attorneys
• Taxable Claimant Payments

Faculty
Robert E. Hinske, CPA
Robert E. Hinske CPA, PC
Michael P. Martin, E.A., Martin Tax & Financial LLC

Credits
CPP/FPC ,CAC 1.0 ,CFP 6.0 ,Enrolled Agents 6.0 ,CPE 6.0 including Taxation 6

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.