IRS Form 1099 Reporting Update

Course Summary:

Don't expose yourself to compliance violations. Find out everything you need to know about Form 1099.

Course Details:

Learn best practices for managing 1099 Form compliance including the rules for issuing various types of 1099 Forms to various types of vendors.

Gain confidence in the decisions and distinguish between an employee and a true subcontractor to whom you issue a 1099 Form.

Purpose of 1099 Form

• Use of Form 1099-MISC
  
• Use of From 1099-INT
  
• Various Types of 1099 Forms in Addition Other 1099 Forms

Compliance Issues

• Reporting Requirements
  
• Penalties for Failure to Comply
  
• Electronic vs. Paperless Filing

Good Practices

• Preparing 1099 Forms
  
• IRS Correspondence on Incorrect ID Numbers
  
• Records Retention