Course Details

IRS Form 1099-MISC Reporting Requirements And Updates

Webinar: ID# 1035820
Recorded On-Demand
About This Course:
Many accounts payable and accounting departments struggle with correctly completing Form 1099-MISC. They often do not know how to issue a 1099-MISC to disregarded entities or how to report special payments such as legal settlements or payments made after the death of an employee. Payable departments often miss deadlines when responding to IRS B notices which can result in penalties.

This webinar helps the people responsible for issuing the 1099-MISC forms to collect the pertinent information to complete a correct 1099-MISC form including payee information, information about proper boxes to report payments and how to handle follow-up questions from the IRS via B notice letters.

Information covered includes new issues for 2017 reporting, how to report to disregarded entities, how to report medical payments, and legal settlements and the proper reporting for payments made after the death of an employee.

Failing to properly complete and file 1099-MISC forms is a common issue which exists for all payers, both for-profit and not-for-profit entities. The result of issuing incorrect 1099-MISC forms is often penalties imposed on the payer.

This class will help payers avoid penalties as well as limit the number of corrected 1099-MISC forms they will have to prepare.What You'll Learn:What's New
  • Di Minimis Rules for Corrections
  • New Due Dates
Form W-9
  • What Is a TIN?
  • Who Completes a W-9?
  • What to Do With Disregarded Entities
1099-MISC Rules
  • What Is the Difference Between Box 3 and Box 7?
  • Where Do You Report Legal Settlements and Medical Payments?
  • When Are 1099-MISC Forms Due to Recipients and the IRS?
Other 1099-MISC Considerations
  • Back-up Withholding and B Notices
  • Penalties
IRS Form 1099-MISC Reporting Requirements And Updates
or via On-Demand
Course Details
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