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Form 1099 Compliance Changes for 2020
- What’s new — the new Form 1099-NEC
- The basics, including who issues 1099s, what transactions are reportable, and who gets 1099
- Form 1099-MISC changes for 2020
- Due dates
- Penalties and ways out of penalties
- Using Form W-9 for better compliance
- TIN verification
- IRS letters and how to respond
- Backup withholding
- Employee vs. contractor: why it’s important and how to tell the difference
- Paying reimbursements to contractors: 1099 reportable or not?
- Form 1099-K and its interaction with the 1099-MISC/1099-NEC
Overview of the webinar
This course will explain the changes relating to Form 1099-MISC for 2020, in particular the changes to how contract labor pay is reported. The IRS has created a new form, called Form 1099-NEC, where contract labor pay will be reported. We will cover these changes, as well as how to tell the difference between a contractor and an employee; due dates; penalties; and how Form 1099-K interacts with the 1099-MISC and 1099-NEC.
Who should attend?
- Business owners
- Managers
- Office managers
- Bookkeepers
- CFOs
- Controllers
- Accountants
Why should you attend?
Learn about the Form 1099 changes for 2020 to make sure you understand your reporting obligations, report contract labor pay correctly and avoid compliance penalties.
Faculty - Mr.Jason 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 credits, corporation and partnership taxation and other issues relating to the modern-day setting.
Jason always had a knack for speaking and news reporting. He is regularly featured as an anchor for Radio Iowa and Radio Minnesota, is a frequent Podcast Guest and hosts his own Podcast.
Credits
HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org
ComplianceIQ is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for [1] PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.