Training Doyens

With the acceleration of the due date for certain  1099 Forms and the increased penalties, it is more important than ever to prepare information returns correctly and file them on time. Our upcoming webinar discusses techniques for avoiding penalties and how to establish the reasonable cause defense that allows you to avoid the penalty when such situations occur. The webinar covers the following key areas: ·          Understand the importance of TIN solicitation ·          Know how and when to issue B-notices to vendors and what to do when the payee responds or fails to respond ·          Understand backup withholding, when to start it, when to stop it, and how to deposit and report it LEARNING OBJECTIVES Know how to register individuals to use the IRS TIN verification system and set up a company account. Know how to submit names and TIN...

OVERVIEW Issuers of 1099  Forms can adopt best practices and procedures that streamline the year end process and provide assurance that 1099s are correct, at least so far as vendor names and TINs are concerned. While certain errors in reporting dollar amounts are considered  “inconsequential”  under new de minimis error rules, errors in the payee name or TIN are never considered inconsequential and can result in penalties. Best practices to avoid errors and penalties include  TIN solicitation, TIN verification , timely and appropriate response to IRS notices including issuing and follow up on  B-Notices  to payees, and procedures to implement and discontinue backup withholding as required. The webinar will discuss the solicitation process including solicitation using and  analyzing Form W-9 , annual solicitations, backup withholding B-notice and solicitations in response to IRS notices, and what to do when the vendor does not provide a TIN or...

OVERVIEW Issuers of  1099 Form s can adopt best practices and procedures that streamline the year end process and provide assurance that 1099s are correct, at least so far as vendor names and TINs are concerned. While certain errors in reporting dollar amounts are considered “inconsequential” under new de minimis error rules, errors in the payee name or TIN are never considered inconsequential and can result in penalties. Best practices to avoid errors and penalties include TIN solicitation, TIN verification, timely and appropriate response to IRS notices including issuing and follow up on B-Notices to payees, and procedures to implement and discontinue backup withholding as required. The webinar will discuss the solicitation process including solicitation using and analyzing  Form W-9, annual solicitations, B-notices  and solicitations in response to IRS notices, and what to do when the vendor does not provide a TIN or provides an incorrect TIN. It will cover ...

OVERVIEW This webinar will cover the latest updates for Form 1099-MISC, 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 minimis dollar amount errors. It will also cover penalty provisions and exceptions to the penalties, due diligence procedures, exceptions to penalties including reasonable cause, common errors, and correction of errors. WHY SHOULD YOU ATTEND 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. Penalties for non-compliance have recently been increased. In order to stay compliant, practitioners must know which form to u...