1099s report payments made to non-employee service providers, as well as payments to suppliers and other entities you do business with.. Think of your own organization, can you name all the types of service providers you use? Do you know which payments are reportable on 1099s, and the minimum amounts you must pay before they are reportable? There is a new 1099-NEC for tax year 2020 that replaces the box 7 payments of the 1099-MISC. The threshold for a 1099-NEC is low – only $600 – that requires you report these payments to the IRS, so they can match them against the other party’s tax return. The deadline to get these to payees, and to the IRS, is now MUCH sooner than it used to be. Also, things like backup withholding and other requirements can make this more complex than it needs to be.
There are 16 different types of 1099s the IRS requires you to report certain payments on. DO you know when to use them, and what payments go where on each form? Do you know what kinds of workers can be considered independent contractors? If you mistakenly classify employees as I/Cs, and the mistakes are caught in an audit, the back tax liability can be devastating. You cannot afford to only grasp the basics … learn the ins and outs of 1099 filing requirements in this must-attend session. In this webinar we discuss
An Overview of new W-9 and W-8 forms
Latest Form 1099-NEC, 1099-MISC, and any changes to other 1099 form reporting requirements with specifics .
How to know when and what to report
Step-by-step review of Form 1099 reporting mechanics
Online reporting trends, and how to report online
Due dates and where to go for more information
Why You Should Attend;
How to develop an efficient Form 1099 reporting process
Best practice to minimize penalties using proper policies and procedures that work under new rules
How to determine if a worker is an independent contractor or an employee
Form1099 relationship to B-Notices (CP2100) and TIN Penalty Assessments (972CG)And much more…
Who Should Attend:
Finance Dept staff
You may ask your Question directly to our expert during the Q&A session.
** You can buy On-Demand and view it as per your convenience.
Mark Schwartz is
an employment tax specialist and has over 15 years of employment tax
experience as an independent consultant and as a payroll tax auditor
with the State of California. He has managed an audit caseload of 20
ongoing audits, from small home-based businesses to large multi-national
corporations. He is expert at defining regulatory and statutory
requirements from local, State and Federal government agencies; and
helping the average businessperson understand what that means to their
business. He has processed weekly and bi-weekly payroll checks plus tax
forms for businesses with hourly as well as exempt workers, multistate
operations and a wide variety of benefits.
provides consulting services encompassing payroll processing and
payroll tax issues. These include payroll tax minimization, payroll tax
compliance reviews, independent contractor studies, use of electronic
transfers, deductions, benefits, etc. Mark has represented both clients
and the State in front of the State Appeals Board. He understands the
complexities of local wage laws, unemployment and disability claims, and
other wage and benefit issues affecting your employees.
prides himself on his outstanding customer service skills. He listens
attentively to his clientele, helping them bridge the gap between the
small business world and Government bureaucracy. He eagerly assists with
clients needs and feels that educating clients toward faster, accurate
and more complete payroll processes provide the most value.
is a participating member of the American Payroll Association. He
earned his BA and MBA in Finance at Santa Clara University. He has held
Certified Internal Auditor and Certified Investment and Derivatives
Auditor Credentials. Mark is currently pursuing a Certified Payroll
Fundamentals Credential with the American Payroll Association.
Edupliance is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1 PDC for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.
This webinar has been approved for 1 HR (General) re-certification credit hours toward California, GPHR, HRBP, HRMP, PHR, and SPHR recertification through the HR Certification Institute. The use of this seal is not an endorsement by the HR Certification Institute of the quality of the activity. It means that this activity has met the HR Certification Institute’s criteria to be pre-approved for re-certification credit.