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      2020 Forms 1099-MISC and 1099-NEC Year End Changes & Updates in Claymont

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      December 8, 2020

      Tuesday  10:00 AM - 1:00 PM

      2803 Philadelphia Pike Suite B Claymont, DE 19703 USA
      Claymont, Delaware 19703

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      2020 Forms 1099-MISC and 1099-NEC Year End Changes & Updates

      Any business – regardless of its structure (sole proprietor, corporation, etc) that makes “reportable transactions” during the year is required to issue 1099 to the recipient of income and to the IRS. Form 1099-MISC compliance is a surprisingly complicated compliance requirement for businesses and accountants. The requirements are always changing, and answers are seldom clear-cut. This course will de-mystify some of the tricky areas relating to Form 1099-MISC, such as when 1099 should be issued and whether a worker is a contractor or an employee.

      In order to stay compliant, practitioners must know which form to use to report specific transactions, when forms must be filed or furnished to recipients in order to be on-time, which information to include and how to make sure it is accurate.
      Why file a Form 1099? & Who must issue 1099?
      To identify the rules requiring W-9 documentation and 1099 reporting for various types of forms.
      To recognize how to establish an independent contractor relationship with the right documentation.
      To recognize the rules and keep your company in compliance
      To identify that your records are correct and will stand the scrutiny of an IRS 3rd Party Documentation and Reporting audit
      Using Form W-9 for compliance
      Line-by-line through the W-9
      Other compliance tips
      How Form 1099-K interacts with the 1099-MISC and 1099-NEC
      Why You Should Attend:
      This webinar includes the latest update on Form 1099-NEC which is being Resurrected by IRS & it will be used to report payments made to independent contractors.

      The attendees of the webinar would learn:
      What constitutes a reportable transaction?
      What are the rules regarding paying and IRS reporting on Independent Contractors?
      How do we avoid the IRS CP-2100 (B-Notices)? What if our vendor/payee claims exemption; must we obtain a W-9 anyway?
      What are the best practices for handling our information reporting obligations?
      How can we minimize the risk of improper exemption claims by our payees and vendors?
      Different due diligence procedures shield an issuer from penalties even when the forms contain incorrect information.
      Who Should Attend:
      HR Professionals/Managers
      CFOs and controllers
      Tax preparers
      Public Accountants
      Accounting managers
      Accounts payable processing professionals
      Employers and Business owners
      CPAs and Enrolled Agents
      Purchasing managers and professionals
      *In this Recorded Session, you can listen to Q&A which includes direct answers from our expert speaker.
      **Recorded Version: Unlimited viewing for 365 days ( Access information will be emailed 36 hours after the completion of live webinar).

      Categories: Education

      Event details may change at any time, always check with the event organizer when planning to attend this event or purchase tickets.

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