Form 1099 Due Diligence
About this Webinar
About Webinar
1 CEU HRCI | 1 PDC SHRM APPROVED
Learn about changes to the Form 1099 for 2021, including the introduction of a new form (Form 1099-NEC), how to tell the difference between an employee and a contractor, how to use Form W-9 effectively, IRS penalties and ways out of penalties, and how to respond to IRS notices.
Session Highlights
- The basics, including who, issue 1099s, what transactions are reportable, and who gets 1099
- Form 1099-MISC and 1099-NEC changes for 2021
- Employee vs. Contractor: why it’s important and how to tell the difference
- Using Form W-9 for better compliance
- TIN verification
- IRS letters and how to respond
- Backup withholding
- Paying reimbursements to contractors: 1099 reportable or not
Why You Should Attend
This course will cover compliance aspects relating to the new Form 1099-NEC, and the Form 1099-MISC. We will start by discussing the basics of 1099s including who must file, which transactions are reportable, and who receive 1099. We will then discuss due diligence steps for determining who is a contractor vs. who is an employee, and how to effectively use Form W-9. We will also discuss filing issues including due dates, the e-filing mandate, and penalties for late filing, and how to reply to CP-2100 notices from the IRS regarding mismatches in taxpayer identification numbers.
Who Should Attend
- Business owners
- HR Professionals
- Managers
- Office Managers
- Bookkeepers
- CFOs
- Controllers
Recorded Version: Unlimited viewing for 365 days ( Access information will be emailed 24 hours after the completion of the live webinar).
Speaker(s)
Jason Dinesen is the President of Dinesen Tax & Accounting, P.C., a public accounting firm in Indianola, Iowa. His practice focuses on accounting and bookkeeping services, tax preparation and business advising to individuals with a business focus ranging from home-based businesses to multistate corporations and not-for-profits. Dinesen has extensive experience working with a third-party administrator of retirement plans and is a prior presenter of multiple 1099 seminars. Dinesen majored in corporate communications with a minor in management from Simpson College.
CEUs
The use of this seal confirms that this activity has met HR Certification Institute’s® (HRCI®) criteria for recertification credit pre-approval.
Credits: 1.5
Supreme Trainer is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for PDC(s) for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit www.shrmcertification.org
Credits: 1.5
Supreme Trainer is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: https://www.nasbaregistry.org.
Credits: 1.5
Credits: 0
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