Webinar Details $219
- Webinar Date: March 20, 2025
- Webinar Time: 2:00pm - 3:40pm EDT live
- Webinar Length: 100 Minutes
- Guest Speaker: Steven Mercatante
- Topic: Taxation and Accounting
- Credit: CPE 2.00, ATATX 1.50
-
-
Issuers of 1099 Forms should adopt best practices and procedures that streamline the filing and post-filing process. These should include measures providing assurance that 1099s are correct, at least so far as vendor names and TINs are concerned. While certain errors in reporting dollar amounts are considered “inconsequential” under de minimis error rules, errors in the payee name or TIN are never considered inconsequential. In fact, they can easily result in penalties.
This program will accordingly discuss best practices to avoid errors and penalties. Methodologies explored include those involving TIN solicitation, TIN verification, timely and appropriate response to IRS notices (including issuance of and follow-up regarding B-Notice letters sent to payees), and procedures to implement and discontinue backup withholding as required.
The webinar will also discuss the solicitation process including solicitation using and analyzing Form W-9, annual solicitations, B-notices and solicitations in response to IRS notices, and what to do when the vendor does not provide a TIN or provides an incorrect TIN.
It will further cover how to register to use the IRS TIN verification service, how the system matches names and numbers and how this can help in preparing submissions to prevent false positive or negative responses from the system. It will cover how to submit TINs for verification and what to do when the system indicates a mismatch between the name and number of the vendor. Procedures related to IRS notification of a name-number mismatch or proposed penalties for incorrect information returns are also addressed - including procedures the payer must follow in issuing B-Notices to payees.
Your Benefits For Attending:- Discover best practices and procedures that smooth the filing and post-filing process
- Learn how to process corrections
- Streamline filing to avoid negative interactions with the IRS
- Discover how to leverage the W-9 to cut down on TIN errors
- Learn how to process a B-Notice effectively
- Get backup withholding strategies for 2025
-
Steven Mercatante
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 web [...]
CPE Credit
Aurora Training Advantage is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
For more information regarding administrative policies such as complaint and refund, and cancellation please contact our offices at 407-542-4317 or training@auroratrainingadvantage.com.