1099-misc

Form 1099-MISC and 1099-NEC Compliance Update

Total Seats: 500

Date and Time:

March 27, 2024 10:00 AM PDT - 11:30 AM PDT

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Description

Course overview:

The due date to file Form 1099-NEC for the 2023 tax year is January 31, 2024, while Form 1099-MISC maintains a due date of February 28th (or March 31st if filed electronically). These tax forms can sometimes be tricky to navigate, but understanding their distinct purposes and requirements is essential to ensure compliance.

Non-employee compensation refers to the payments made to independent contractors and vendors; these payments must be reported to the IRS. If your business hired independent contractors and/or vendors and paid them more than $600 for their services, you are required to file 1099-NEC with the IRS and furnish them with a copy.

Form 1099-MISC is a tax form that reports various types of income earned as an independent contractor or non-employee. It is filed by the payer and given to the recipient, providing details about the remuneration paid. Recipients may use this form to report their earnings on their tax return.

Why should you attend this webinar?

This webinar will cover Form 1099-NEC for independent contractors, and Form 1099-MISC for reporting payments such as rents, prizes and awards, etc. We will also cover Form 1099-K and how to deal with payments made via apps such as PayPal and Venmo. IRS penalties for failure to file correct 1099s continue to rise, and the IRS is cracking down on 1099-related compliance such as backup withholding.

Areas covered:

  • What exactly is a 1099, and who files them?
  • Filing Requirements for Form 1099 MISC and 1099 NEC
  • Determining the $600 threshold
  • Sending 1099s to corporations
  • Form 1099-K, Venmo, PayPal, and other payment apps complicate matters
  • Form W-9 and backup withholding
  • Dates for filing and penalties for late filing

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Who will benefit:

  • CPAs
  • Enrolled agents
  • Tax professionals
  • Bookkeepers
  • HR professionals
  • Business owners

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

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