Description:

Any business – regardless of its structure (sole proprietor, corporation, etc.) that makes “reportable transactions” during the year is requires to issue 1099 to the recipient of income and to the IRS. Form 1099-MISC compliance is a surprisingly complicated compliance requirement for businesses and accountants. The requirements are always changing, and answers are seldom clear-cut. This course will de-mystify some of the tricky areas relating to Form 1099-MISC, such as when 1099 should be issued and whether a worker is a contractor or an employee.

This webinar will cover Form 1099-NEC for independent contractors, and Form 1099-MISC for reporting payments such as rent. We will also cover Form 1099-K and how to deal with payments made via apps such as PayPal and Venmo. IRS penalties for failure to file correct 1099s continue to rise, and the IRS is cracking down on 1099-related compliance such as backup withholding.

Session Highlights:

• When to file: the $600 threshold
• When to file: corporations
• When to file: credit card and payment apps such as Venmo
• To identify that your records are correct and will stand the scrutiny of an IRS 3rd Party Documentation and Reporting audit
• Why file a Form 1099? & Who must issue a 1099?
• Filing matters including the e-file mandate and how to file
• To identify the rules requiring W-9 documentation and 1099 reporting for various types of forms.
• To recognize how to establish the independent contractor relationship with the right documentation.
• To recognize the rules and keep your company in compliance

Why You Should Attend:

Attendees will have better knowledge of 1099s and how to stay in compliance and avoid penalties.

Who Will Benefit:

• Business Owners
• Senior Management
• CFO & Controllers
• CPA’s & EA’s
• Human Resources professionals
• Payroll Professionals
• Compliance Professionals
• Accountants
• Bookkeepers
• Tax Professionals
• Auditors
• Office Managers
• Managers & Supervisors
• Vendor Management Professionals
• Benefits Managers
• Finance Professionals

Jason T. Dinesen

Jason Dinesen (EA, LPA) is a tax nerd,entrepreneur, tax expert and a well-known presenter of continuing education courses. Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community. Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics and much more. He has presented over dozens of webinars on Form 1099 (for 10 years on this subject!); marriage in the tax code; tax updates; the new Form W-4, payroll updates, filing status, tax credit and other issues relating to the modern-day household setting. He also teaches 2 classes at Simpson College, Individual Income Tax and Business Analytics. Jason always had a knack for radio shows and has and regularly features as an anchor for Radio Iowa. Jason was born and raised in Iowa and has a degree in corporate communications from Simpson College in Indianola. He has a big family that includes his wife, two sons, 4 cats and 2 dogs. His other hobbies include being a season ticket holder to University of Iowa football.