RECORDED TRAINING COURSE
Form 1099 reporting has always been tricky, and changes in 2020 and 2021 continue to increase the reporting burden. Tucked away in the American Rescue Plan was a change to reporting on a form called a 1099-K, which has an interaction with contract labor reported on the 1099-NEC. More and more contractors are taking payment via apps such as Venmo – how are those payments reported? Or are they reported at all? These are among the things you’ll learn in this fast-paced, 1-hour webinar.
This webinar will covers the latest updates businesses need to be aware of with the 1099-NEC and 1099-MISC. This includes changes in the American Rescue Plan relating to Form 1099-K, which in turn affects the 1099-NEC and 1099-MISC. We will also cover topics such as: how (or if) you report payments made to contractors through Venmo. We also cover the basics, at the beginning, such as what is a 1099, who gets a 1099, what are “medical payments” and what are “legal payments”?
- A look at the 2021 version of the 1099-NEC and 1099-MISC
- What is a 1099?
- Who gets a 1099?
- When do corporations get 1099s?
- A review of medical payments and legal payments
- How to file 1099s?
- Form 1099-K: updates and interactions with the 1099-NEC
- Form W-9 updates and discussion
- Dealing with reimbursements to contractors
- Who exactly is a contractor?
Why You Should Attend:
With this essential “update cum webinar”, you will be prepared for the changes in the IRS forms, instructions, and regulations for the 1099-NEC and 1099-MISC reporting required in 2022. The American Rescue Plan has made changes to Form 1099-K, which in turn affects Forms 1099-NEC and 1099-MISC. Additionally, will talk about how (or if) to report payments made to contractors through Venmo. Apart from this webinar, we will also cover the basics, including what is 1099, who gets 1099, what are “medical payments” and what are “legal payments”? During this fast-paced, one-hour webinar, you’ll learn about these topics and more.
Who Should Attend:
- Tax preparers
- Human resources professionals
- Payroll professionals
Note: You will get access to the Recording link and E-Transcript; in your account and at your registered email address.
Jason T. Dinesen, LPA, EA is the President of Dinesen Tax & Accounting, P.C., a public accounting firm in Indianola, Iowa. His practice focuses on tax and accounting services for small businesses and individuals. Dinesen has extensive experience working with a third-party administrator of retirement plans and is a prior presenter of multiple 1099 seminars.