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IRS Form 1099 Reporting: Compliance Requirements - SHRM & HRCI Accredited
- Introduction about 1099s/basic overview
- Who files a 1099-MISC
- Who receives a 1099-MISC
- When do corporations get a 1099-MISC
- Medical services and Form 1099-MISC
- Employee vs. contractor: why is this important and how do you tell the difference?
- Dealing with reimbursements to contractors
- Form W-9 and why it is important, and how it relates to the 1099-MISC
- Backup withholding
- IRS notices
- Due dates, how to file with the IRS, and penalties for late filing
- Form 1099-K and its interaction with the 1099-MISC
- Rental property and Form 1099-MISC
- Using Form 1099-C (cancellation of debt) as a collection method
Overview of the webinar
Form 1099-MISC compliance is a surprisingly complicated compliance requirement for businesses and accountants. The requirements are always changing, and answers are seldom clear-cut. This course will de-mystify some of the tricky areas relating to Form 1099-MISC, such as when a 1099 should be issued and whether a worker is a contractor or an employee. The main focus of this presentation is on “box 7” (independent contractor pay) but we cover other 1099-MISC topics as well.
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 how and when a 1099-MISC should be filed
- Learn who receives a 1099-MISC
- What is the difference between an independent contractor and an employee, and why is it important to classify workers properly?
- Learn about due dates and penalties for late filing
- Learn how to file with the IRS and when e-filing is required
- Learn about the interaction between Form 1099-K and Form 1099-MISC
- Do rental properties/landlords issue 1099s?
Faculty - Mr.Jason Dinesen
Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert and a well-known presenter of continuing education courses.
Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community. Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics and much more.
He has presented over dozens of webinars on Form 1099 (for 10 years on this subject!); marriage in the tax code; tax updates; the new Form W-4, payroll updates, filing status, tax credits, corporation and partnership taxation and other issues relating to the modern-day setting.
Jason always had a knack for speaking and news reporting. He is regularly featured as an anchor for Radio Iowa and Radio Minnesota, is a frequent Podcast Guest and hosts his own Podcast.
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