Course description
Construction Payment and Performance Bond Fundamentals
Increase your understanding of the current form 1099 laws and regulations, remain compliant with proper policies and procedures and prevent costly errors. The world of 1099 reporting requires us to be knowledgeable of the complicated revisions of expanding 1099 rules. There will be continual uncertainty as to what burdensome revisions we may expect next. Thus, it is imperative to gain insight as to the current laws concerning information reporting. Be informed of the most recent information reporting regulations to assure that you and your clients remain compliant with proper policies and procedures, and advise payors of their responsibilities.
Learning Objectives
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Training content
- The Basics of 1099 Reporting
- Types of Payments Requiring 1099s
- IRS TIN Matching Program and Procedures to Correct Inaccurate 1099s
- Electronic Filing of Forms 1099 (FIRE)Compliance Issues
- IRS 2100/2100A and Subsequent B-Notices to Payees
- Increased Penalties for Noncompliance: Penalty Notices and Fees
- Backup Withholding Requirements
- U.S. and Nonresident RequirementsUpdates on Current Hot Topics in the 1099 World
- Form 1099-B Requirements: Broker Basis Reporting
- Consumer/Debtor Alert: Form 1099-C - Cancelation of Debt (COD)
- IRS Merchant Acquirer Reporting Requirements: Code Section 6050W and Form 1099-K
- Independent Contractor Issues - Misclassifications and Remedies (Form 1099-MISC)
- Voluntary Classification Settlement Program (VCSP) (Form 8952)
- 2016 Legislation and the Future of Information Reporting
Costs
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Lorman Education Services - Live and On-Demand Courses
Lorman Education Services is a leading provider of online professional development and corporate training for organizations and individual professionals. For more than 30 years, Lorman has delivered relevant, high-quality, professional-level courses that cover a broad range of business and technical...