The Form 1099 and W-9 Update - Complying with IRS Information Reporting

Information reporting on Form 1099 is one of the IRS's main tools for closing the tax gap, the taxes owed but not reported or paid. This 100-minute Form 1099 and W-9 webinar explains the rules for paying and reporting on independent contractors and ways to make this time-consuming task easier.

You'll learn how to set up new vendors, when to require a W-9 even if a vendor claims exemption, how to test W-9 details against IRS records for free, and how to avoid CP-2100 B-notices. The session covers who and what you pay that triggers reporting, the forms that document reportable status, and 1099, W-2 and ACA filing deadlines.

It also covers B-notice follow-up, TIN verification and best practices for filing.

• Set up independent contractors in your vendor system to meet IRS reporting rules
• Decide when to require a Form W-9 and verify it with IRS TIN matching
• Determine which payments and payees must be reported on Form 1099
• Follow B-notice procedures and avoid IRS notices
• Meet 1099, W-2 and ACA filing deadlines
• Reduce exposure to IRS penalties and 972-CG notices

• Updates to Forms 1099-MISC and 1099-NEC
• 1099, W-2 and ACA filing deadlines to the IRS and SSA
• Setting up an independent contractor in your vendor payment system
• Protocols for setting up new vendors
• When to require a Form W-9
• Testing W-9 information against IRS records for free
• How who and what you pay determines 1099 reporting
• Forms that document a contractor as reportable or non-reportable
• Required government reporting on independent contractors
• B-notice procedures: when to issue and how to follow up
• Using the IRS TIN verification system to avoid notices
• Best practices for filing 1099s, including why not to file early
• Proposals to remove reporting exemptions and what they mean for you

The IRS has long struggled with independent contractor compliance, and penalties for getting 1099 reporting wrong can be large. This session helps you document contractor relationships properly, keep records that hold up in an IRS third-party documentation and reporting audit, and build a defense against a 972-CG Notice of Proposed Penalty.

It suits CPAs, CFOs, controllers, tax and accounting professionals, tax attorneys, bank managers, compliance, information reporting, IT and risk managers, and auditors.

• CPA's
• CFOs
• Tax Managers/Tax Professionals
• Tax Attorneys
• Bank Managers
• Compliance Officers
• Information Reporting Officers
• CFOs
• Controllers
• Accounting Managers
• Auditors
• IT Managers
• Compliance Managers
• Risk Managers 

Patrick Haggerty is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice. He began teaching accounting at the college level in 1988. He is licensed as an Enrolled Agent by the U. S. Treasury to represent taxpayers at all administrative levels of the IRS and is a Certified Management Accountant. He has written numerous articles and a monthly question and answer column for payroll publications. In addition, he regularly develops and presents webinars and presentations on a variety of topics including Payroll tax issues, FLSA compliance, information returns, and accounting.