Form 1099-MISC and 1099-NEC for 2025
Event Date:
December 6, 2024
Event Time:
10:00 AM PST
Event Description
Learn about recent changes made by the IRS to reporting requirements, error corrections, due diligence procedures, and filing due dates.
Course Overview:
This 90-minute webinar will cover the latest updates for Form 1099-MISC and 1099-NEC, specific reporting requirements for various types of payments and payees, filing requirements, withholding requirements, and reporting guidelines.
It will cover important changes to the filing due dates and the new safe harbor requirements for de minimus dollar amount errors. Additionally, it will cover penalty provisions and exceptions to the penalties, due diligence procedures, exceptions to penalties including reasonable cause, common errors, and correction of errors.
Areas Covered:
- Reminders & What’s New
- Information Returns
- A walk-through Form 1099-MISC and 1099-NEC
- Correcting errors
- SSN, TIN, EIN
- TIN Solicitation & “B” Notices
- TIN verification
- Backup withholding
Session highlights:
- Case Studies
- Tax Court Case Review
Learning objectives:
After this session, attendees will
- Refine W-9 Procedures
- Develop best practices for the preparation of Forms 1099
- Understand Potential penalties for payer and tips to avoid penalties
- Know when to furnish and file information returns under the new requirements
- Understand the new de minimus error rules
- Identify reportable payments and payees. Know when 1099 is required
- Be aware of common 1099 errors: Know how to avoid them and correct them
- Understand backup withholding: What it is, when to start and stop, how to deposit as well as report
- Understand the procedures for “B” notices: When to issue and how to follow-up
- Know when the payment card rules apply and how 1099 reporting is affected
- Understand how to document independent contractors as reportable or non- reportable
- Know the procedures and policies that establish “reasonable cause” and avoid penalties
Why should you attend this webinar?
The changes in reporting requirements can be confusing and the IRS has recently made changes to reporting, error correction, and filing due date requirements. Accounts payable professionals, managers, and withholding agents need to be aware of the changes in order to avoid non-compliance and penalties.
For non-compliance, penalties have recently been increased. In order to stay compliant, practitioners must know which form to use to report specific transactions, when these forms must be filed or furnished to recipients in order to be on time, what information should be included 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 information.
Who will benefit:
- Accountants
- CPAs
- Enrolled Agents
- Tax Preparers
- Attorneys
About the Instructor:
Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert, and a well-known presenter of continuing education courses.
Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community. Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics, and much more.
He has presented dozens of webinars on Form 1099 (for 10 years on this subject!); marriage in the tax code; tax updates; the new Form W-4, payroll updates, filing status, tax credit, and other issues relating to the modern-day household setting.
He also teaches Individual Income Tax and Business Analytics.
Jason always had a knack for radio shows and he regularly features as an anchor for Radio Iowa. Jason was born and raised in Iowa and has a degree in corporate communications from Simpson College in Indianola.
Refund Policy:
Attendees may cancel up to two working days before the course start date and the refund will be processed within two working days.
We will process/provide a refund if the webinar is canceled. Refunds will not be given to participants who do not attend the webinar. On-demand recordings can be requested in exchange. Webinar may be canceled due to lack of enrolment or unavoidable factors. Attendees will be notified 24 hours in advance if a cancellation occurs. Substitutions can happen anytime.
If you have any concerns about the content of the webinar and are not satisfied please contact us at care@thecomplyguide.com
Alternatively, you can register here
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