Form 1099 Due Diligence: Avoid Costly Mistakes
The seemingly never-ending and complicated changes to the 1099 forms require you to stay diligent. Reporting issues are commonly a top priority and there is no better way to stay up to date on the issues, exercise best practices, practice due diligence, and avoid costly mistakes. The IRS thinks Forms 1099 are important. They asked and Congress agreed to increase the failure to timely file and the failure to file a correct Information Return penalties for Forms filed. This webinar will go over developing a best practices manual and includes helpful hints on ways to avoid potential penalties and those time consuming “B” Notices.
What better way to prepare for the coming Form 1099 filing season that to learn current preparing and filing guidelines, along with the latest helpful hints.
- What’s New – Filing Dates
- What’s New – Penalty Increases and Abatements
- Compliance Responsibility of Income Tax Preparer
- Compliance Responsibility of Payer
- Definition of Due Diligence
- Identifying Types of Payments Requiring 1099s
- Identifying Types of Entities Who Should Receive a 1099
- Most Common 1099 Mistakes
- Use IRS e-Services to Avoid TIN and Name Matching Problems
Steven Mercatante is the principal and founder of TIR Consulting, LLC. He is a nationally recognized leader in tax reporting education and consulting on specialized compliance issues. He has conducted on-site consultation for corporate clients from across the world and led countless seminars and webinars for Convey Compliance Systems, IAPP, Balance Consulting, The Accounts Payable Network, Accounts Payable Now and Tomorrow, Progressive Business Conferences, The Center For Competitive Management,... View Full Profile