Training Doyens

What will be discussed? 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 how to establish procedures and best practices and how to avoidsituations that can lead to penalties. What you’ll learn? ·          Know how to register individuals to use the IRS TIN verification system and set up a company account. ·          Know how to submit names and TINS for verification. ·          Know the steps to properly follow up on a mismatch indicated by the TIN verification system. backup withholding notice, 1099 tax form 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 TINS for verification. ...

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, 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 how to register...

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 TINsolicitation, 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 ...