IRS penalties for missing or incorrect 1099s keep rising, and the IRS is paying closer attention to related compliance such as backup withholding. This Form 1099-NEC and 1099-MISC compliance webinar explains how to get your information returns right.
You'll learn when to use Form 1099-NEC for independent contractors and Form 1099-MISC for payments such as rent, who files these forms and how to determine the reporting threshold. The session also covers whether you need to send 1099s to corporations.
Payments made through apps such as PayPal and Venmo add complications, so you'll see how Form 1099-K fits in, along with collecting Form W-9 and applying backup withholding.
WHY SHOULD YOU ATTEND?
1099 errors are easy to make and can lead to IRS penalties. This session gives you a clearer understanding of the forms, the thresholds and the payment app rules so you can stay compliant.
It suits accountants, bookkeepers, office managers, HR and compliance professionals, tax preparers and payroll professionals who handle vendor and contractor payments.
AREA COVERED
- What a 1099 is and who files it
- Form 1099-NEC for independent contractors and Form 1099-MISC for payments such as rent
- Determining the reporting threshold
- Sending 1099s to corporations
- How Form 1099-K, Venmo, PayPal and other payment apps complicate matters
- Form W-9 and backup withholding
LEARNING OBJECTIVES
- Explain what Forms 1099-NEC and 1099-MISC are used for and who files them
- Determine when a payment meets the reporting threshold
- Decide when 1099s must be sent to corporations
- Handle payments made through PayPal, Venmo and other apps, including Form 1099-K
- Use Form W-9 and apply backup withholding correctly
WHO WILL BENEFIT?
- Accountants
- Book Keepers
- Office Managers
- Human Resources Professionals
- Compliance Professionals
- Tax Preparers
- Payroll Professionals
1099 errors are easy to make and can lead to IRS penalties. This session gives you a clearer understanding of the forms, the thresholds and the payment app rules so you can stay compliant.
It suits accountants, bookkeepers, office managers, HR and compliance professionals, tax preparers and payroll professionals who handle vendor and contractor payments.
- What a 1099 is and who files it
- Form 1099-NEC for independent contractors and Form 1099-MISC for payments such as rent
- Determining the reporting threshold
- Sending 1099s to corporations
- How Form 1099-K, Venmo, PayPal and other payment apps complicate matters
- Form W-9 and backup withholding
- Explain what Forms 1099-NEC and 1099-MISC are used for and who files them
- Determine when a payment meets the reporting threshold
- Decide when 1099s must be sent to corporations
- Handle payments made through PayPal, Venmo and other apps, including Form 1099-K
- Use Form W-9 and apply backup withholding correctly
- Accountants
- Book Keepers
- Office Managers
- Human Resources Professionals
- Compliance Professionals
- Tax Preparers
- Payroll Professionals