THIS WEBINAR WILL COVER THE LATEST UPDATES FOR FOR 2020 - New Form 1099: Rules and Reporting Regulations- 2020
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Category Professional Training, Training, Online,Webinar,Education
Deadline: April 21, 2020 | Date: April 22, 2020
Venue/Country: Online Webinar, U.S.A
Updated: 2020-02-06 16:11:34 (GMT+9)
Call For Papers - CFP
OverviewThis webinar will cover the latest updates for Form 1099-MISC, specific reporting requirements for various types of payments and payees, filing requirements, withholding requirements and reporting guidelines.It will cover filing due dates including the accelerated due dates for 1099-MISC Forms with an entry in box 7, and the safe harbor requirements for de minimis dollar amount errors. It will cover penalty provisions due diligence procedures, and exceptions to penalties including reasonable cause, common errors, and correction of errors.Why you should AttendThe IRS is actively targeting enforcement measures on accounts payable operations. Penalties for non-compliance are now indexed and increase each year. It is more important than ever that 1099 Forms be prepared correctly, filed and furnished timely, and that filers perform due diligence procedures to avoid or mitigate penalties.In order to stay compliant, practitioners must know which form to use to report specific transactions, when forms must be filed or furnished to recipients in order to be on-time, which information to include and how to make sure it is accurate, how and when to make corrections, how to avoid or mitigate errors, whether a particular payee is subject to backup withholding, or transaction reporting, and the due diligence procedures that shield an issuer from penalties even when the forms contain incorrect informationAreas Covered in the SessionReminders & What's NewChanges to filing deadlines and affected returnsNew de minimis exception for money errorsIncreases in penalties for non-complianceInformation ReturnsOverview of information returnsResources for complianceA walk through Form 1099-MISCIdentification of reportable payments and payeesCorrecting ErrorsCommon 1099 errors - how to prevent them and how to correct themSSN, TIN, EINTaxpayer identification number basics: Which number to useDocumentation that established reportable and non-reportable payeesTIN Solicitation & "B" Notices Due diligence procedures avoid or mitigate penalties for missing or incorrect payee tax ID numbers"B" notice procedures: When to issue and how to follow-upTIN VerificationUsing the IRS TIN verification systemBackup Withholding What it isWhen to start and when to stopHow to deposit and reportPenalties and problems Procedures and policies that establish "reasonable cause" and avoid penaltiesWho Will BenefitCFOs and ControllersAccounts Payable and Accounting ManagersAccounts Payable Processing ProfessionalsEmployers and Business OwnersPurchasing ManagersPublic Accountants, CPAs, and Enrolled AgentsEvent link : https://www.traininng.com/webinar/-201321live?ourglocal-SEOContact InfoTraininng.com LLC Email: traininngdotcomgmail.com Phone: US: (510) 962-8903Phone: Zurich: +41 - 43 434 80 33Website : https://www.traininng.com
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