Self-Study Course Details
Form 1099 filing season is more intense than ever. Whether you are new or seeking an update this course will provide Accounts Payable, Payroll, and Tax with plain English guidance to help minimize 1099-NEC and 1099-MISC mistakes while breaking down the toughest 1099 payee and payment reporting situations as part of an in depth box-by-box review of the Form 1099-MISC.
In this course, industry expert and corporate tax attorney Steven D. Mercatante Esq. takes a look some of the more common problems experienced by accounts payable and tax departments related to documenting, validating, and reporting payee information on IRS Form 1099-MISC. He identifies key issues and best-practices for addressing them.
- Learn about the Form 1099-MISC’s trickiest boxes given the release of the 1099-NEC, dramatic modifications to the 1099-MISC, and new changes in the law: rent, leases, prizes and awards, hotel payments, when to report freight payments, recognize which 1099-NEC versus 1099-MISC boxes to report attorney and settlement payments, decode what “damages” payments mean for AP purposes, identify the difference between box 6 and 1099-NEC box 1 medical service provider payments, discover when the reporting does not always follow the payment, determine which forms to report non-qualified deferred compensation
- Identify W-9 document validation best practices with a focus on situations when multiple names are provided, handling undocumented payees, exempt organization payees, and IRS TIN Match Program best practices
- Identify categories of payees and payments that are both reportable and not reportable, plus identify service payments that also require the reporting of a related good
- Discover recent 1099-MISC changes including what the new Form 1099-NEC means for 1099-MISC reporting
- Recognize how to identify the reportable payee when you pay sole proprietors, LLCs, payee's merged or bought by another, S-Corps, agents, or middlemen
Steven Mercatante is the principal and founder of TIR Consulting, LLC. He is a nationally recognized leader in tax reporting education and consulting on specialized compliance issues. He has conducted on-site consultation for corporate clients from across the world and led countless seminars and webinars for Aurora Training Advantage, IAPP, Balance Consulting, The Accounts Payable Network, Accounts Payable Now and Tomorrow, Progressive Business Conferences, The Center For Competitive Management, and more.
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Encoursa LLC is an IRS-approved continuing education provider. Provider #: KKRBE
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