TIN Matching System: Reducing B-Notices and Eliminating Proposed Penalties
OVERVIEW
For many years, the IRS has placed the burden
on businesses, non-profits and not-for-profits as well as all levels of
government to report information about taxable payments they make to their
vendors and customers.
In order to more accurately match our
information reporting to taxpayer’s tax returns they have introduced an “e-services” portal to help us ensure the names and
tax identification numbers provided to us by our payees match their records.
When used properly, this system can reduce the risk of warning letters
(CP-2100s/B-Notices) and penalty notices (972-CGs) from the IRS.
WHY
SHOULD YOU ATTEND
- How do you know your vendor’s W-9’s are correct?
- What are the consequences of filing incorrect name and
ID numbers on their 1099’s?
You can begin to develop a solid plan to move
your company toward near absolute regulatory compliance, efficiency
improvements, standardized processes, & adequate documentation to ensure your
1099’s contain accurate information that will agree with the IRS’s records. You
will all but eliminate your B-Notices from the IRS!
AREAS
COVERED
Do you know the
answers to these questions?
- Starter Question: What is TIN Matching?
- What are the benefits of the IRS TIN Matching System?
- Who must request access to the TIN Match system?
- How do we register to use the system, including the
2-step verification system introduced 12/10/17?
- How does the TIN Matching system work?
- What are the best practices for managing 1099 reporting
requirements?
- How do I deal with vendors who report incorrect
information on their W-4’s?
- B-Notices: when I receive a letter from the IRS stating
I have incorrect names/TINS on my 1099’s, what must I do and what about
the deadlines?
- What if I receive a Notice of Proposed Penalty?
- How do we negotiate a reduction or eliminate the
penalty?
- How do we leverage the Reasonable Cause Regulations?
- How does TIN Matching impact the fight to reduce
proposed penalties?
LEARNING
OBJECTIVES
Learn the best practices for eliminating 1099 error notices from the IRS. Discover the
power of the IRS TIN Matching
system. Discover the smoothest way to register to use the two step verification
process introduced 12/10/17.
Learn how to handle the CP-2100 notices from Uncle Sam and avoid the fines & penalties
for failure to timely comply with the B-Notice requirements.
Understand the difference between and 1st and
2nd B-Notices and the related differences in required vendor responses. Be sure
you institute and stop Backup Withholding when required. You will gain the
tools to make you the most effective information return manager your company
has ever seen.
WHO
WILL BENEFIT
- CFOs
- Controllers
- Compliance Managers
- Accounting Managers
- Accounts Payable Managers
- Any institution that makes reports on forms 1099-INT,
1099-B, 199-DIV, 1099-PATR, & 1099-MISC
SPEAKER
Miles Hutchinson is a CGMA (Chartered Global Management
Accountant) and experienced businessman. He has been an auditor with
PriceWaterhouseCoopers and the Chief Financial Officer of a $1 billion real
estate development company. Miles is a professional speaker and consultant who
has presented over 2,000 seminars and training sessions on a myriad of business
and financial topics, like financial analysis and modeling, accounting,
strategic planning, and compliance with the Sarbanes-Oxley Act.
Use
Promo Code INDA20
and get flat 20% discount on all purchases.
To Register (or) for
more details please click on this below link:
Email: support@trainingdoyens.com
Toll Free: +1-888-300-8494
Tel: +1-720-996-1616
Fax: +1-888-909-1882
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