This webinar will cover the reporting requirements for Forms 1099-MISC and 1099-NEC. It will also cover changes to the Forms for 2022 and expected changes to the filing requirements including new e-filing requirements that will affect most filers. It will cover specific reporting requirements for various types of payments and payees, filing requirements, withholding requirements and reporting guidelines, and best practices for compliance assurance and penalty avoidance.
The IRS is actively targeting enforcement measures on accounts payable operations. Penalties for non-compliance are now indexed and increase each year. It is more important than ever that 1099 Forms be prepared correctly, filed, and furnished timely, and that filers perform due diligence procedures to avoid or mitigate penalties.
In order to stay compliant, practitioners must know which form to use to report specific transactions, when forms must be filed or furnished to recipients in order to be on time, which information to include and how to make sure it is accurate, how and when to make corrections, how to avoid or mitigate errors, whether a particular payee is subject to backup withholding or transaction reporting, and the due diligence procedures that shield an issuer from penalties even when the forms contain incorrect information.
The IRS recently released proposed regulations regarding the reduction of the e-filing thresholds for information returns. This session will provide the latest information available regarding the proposed regs and what to do to prepare for compliance under final regulations.
After this webinar you will:
This webinar will cover the latest updates for Form 1099-MISC and Form 1099-NEC. It will cover specific reporting requirements for various types of payments and payees, filing requirements, withholding requirements, and reporting guidelines.
The webinar will cover filing due dates, penalties for late-filed and late-furnished returns, various ways to prevent and mitigate penalties including the safe harbor provisions for de minimis dollar amount errors and the important “reasonable cause” defense, steps that can be taken now to prevent penalties such as taxpayer identification number verification, backup withholding, handling B-notices, filing procedures and correcting errors.
The IRS is actively targeting enforcement measures on accounts payable operations. Penalties for non-compliance are now indexed and increase each year. It is more important than ever that 1099 Forms be prepared correctly, filed, and furnished timely, and that filers perform due diligence procedures to avoid or mitigate penalties.
In order to stay compliant, practitioners must know which form to use to report specific transactions, when forms must be filed or furnished to recipients in order to be on time, which information to include and how to make sure it is accurate, how and when to make corrections, how to avoid or mitigate errors, whether a particular payee is subject to backup withholding or transaction reporting, and the due diligence procedures that shield an issuer from penalties even when the forms contain incorrect information.
The IRS recently released proposed regulations regarding the reduction of the e-filing thresholds for information returns. This session will provide the latest information available regarding the proposed regs and what to do to prepare for compliance under final regulations.
After this webinar you will:
This webinar will cover the latest updates for Form 1099-MISC and Form 1099-NEC. It will cover specific reporting requirements for various types of payments and payees, filing requirements, withholding requirements, and reporting guidelines.
The webinar will cover filing due dates, penalties for late-filed and late-furnished returns, various ways to prevent and mitigate penalties including the safe harbor provisions for de minimis dollar amount errors and the important “reasonable cause” defense, steps that can be taken now to prevent penalties such as taxpayer identification number verification, backup withholding, handling B-notices, filing procedures and correcting errors.
Patrick Haggerty
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.
Treating Employees Like Adults: Discipline versus Empowerme…
7 Ways To Beat Burnout: Without Quitting Your Job
How to Write Procedures to Avoid Human Errors
Ethical Terminations: Navigating Employee Exits with Legal …
Understanding EBITDA – Definition, Formula & Calculation
Handbook Overhaul 2026: Compliance, OBBB Act & Beyond
FDA Proposes Framework to Advance Credibility of AI Models
Project Management for Non-Project Managers - Scheduling yo…
Data Integrity and Privacy: Compliance with 21 CFR Part 11,…
4-Hour Virtual Seminar on Hidden Secrets of Selling & Marke…
Validation Statistics for Non-Statisticians
Work Shouldn’t Feel Like A Soap Opera: Less Drama. More Foc…
Offboarding with Care: Conducting Legal & Ethical Employee …
The Alphabet Soup: When the FMLA, ADA, COBRA, and Workers' …
2-Hour Virtual Seminar on How to Conduct an Internal Harass…
Managing Toxic & Other Employees Who have Attitude Issues
Payments Fraud Detect & Prevent Check, ACH and P-Card Schem…
Reduce Stress in the Workplace: Effective Ways to Handle Co…
Language is Code - Intro to AI - Generative AI - ChatGPT an…
GROUPBY and PIVOTBY functions. Pivot table killers?
How to Prepare for a Regulatory Inspection: FDA, EMA, and N…
Excel - Reporting Simplified - Learn Pivot Tables from Scra…
The Power of Trust: Why It Should Matter to All Leaders & H…
California Meal and Rest Breaks: What You Don't Know Can Co…
How to Reduce Human Error in a GMP Manufacturing Floor
2-Hour Virtual Seminar on the 6 Most Common Problems in FDA…
Maximizing Productivity with ChatGPT: AI Solutions for HR, …
Excel - Pivot Tables - The Key To Modern Data Analysis and …
Re-imagine Finance & Accounting Made Simple. Three Webinars…
Form W-9 Compliance to Avoid Penalties: TIN Verification, B…
21 CFR Part 11 - Compliance for Electronic Records and Sign…
New EEOC Report: Workplace Harassment Prevention Not Workin…
Transforming Change and Conflict into Diverse-Inclusive-Col…
ChatGPT and Project Management: Leveraging AI for Project M…
Excel Power Skills: Master Functions, Formulas, and Macros …
Construction Lending And Real Credit Administration: Evalua…
Develop People Intelligence: Is Your Communication Style as…