Course Description

With the recent updates to Forms 1099-MISC and 1099-NEC, the 1099 filing season has added a whole new layer of complexities. Whether you are new to the 1099 filing process or seeking an update, this course will help minimize 1099 filing mistakes while breaking down the toughest 1099 payee and reporting situations as part of an in depth box-by-box review of the revised Forms 1099-MISC and 1099-NEC.

In this webinar, 1099 expert Jason Dinesen (EA, LPA) will walk through common issues related to documenting, validating, and reporting payee information on IRS Forms 1099-MISC and 1099-NEC.  He will also explain best practices for addressing many of the common issues that come up on the new 1099 forms. 

Course Learning Objectives

• Identify how to address Form 1099-NEC and MISC’s trickiest boxes.
• Determine which boxes to report non-qualified deferred compensation.
• Recognize 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 reporting changes including specific to forms 1099-NEC 1099-MISC.
• 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.

Learning Objectives

• Please refer to the course description for the learning objectives.

Prerequisites

• None

Who Should Attend

CPAs, Tax Professionals, Professionals Working with the Accounts Payable Function.