Professional Course

IRS Form 1099-MISC Reporting Requirements and Updates

1.5 hours
1.5 hours
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Course description

IRS Form 1099-MISC Reporting Requirements and Updates

IRS Form 1099-MISC Reporting Requirements and Updates

Don’t expose yourself to compliance violations. Find out everything you need to know about Form 1099-MISC. Many accounts payable and accounting departments struggle with correctly completing Form 1099-MISC. They often do not know how to issue a 1099-MISC to disregarded entities or how to report special payments such as legal settlements or payments made after the death of an employee. Payable departments often miss deadlines when responding IRS B-Notices which can result in penalties. This topic helps the persons responsible for issuing the 1099-MISC forms to collect the pertinent information to complete a correct Form 1099-MISC including payee information, information about proper boxes to report payments and how to handle follow-up questions from the IRS via B-Notice letters. New issues for 2016 reporting, how to report to disregarded entities, how to report medical payments, legal settlements and the proper reporting for payments made after the death of an employee will be explained. Failing to properly complete and file Forms 1099-MISC is a common issue which exists for all payers, both for-profit and not-for-profit entities. The result of issuing incorrect 1099-MISC forms is often penalties imposed on the payer. This topic will help payers avoid penalties as well as limit the number of corrected Forms 1099-MISC they will have to prepare.

Learning Objectives

  • You will be able to define the purpose of Form 1099-MISC.
  • You will be able to explain backup withholding and the B notice process.
  • You will be able to identify the correct 1099-MISC reporting for various types of payments.
  • You will be able to recognize how to report payments made to disregarded entities.

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    Who should attend?

    This live webinar is designed for accountants, CFOs, controllers, accounts payable professionals, tax managers, tax preparers, presidents, vice presidents, bookkeepers and enrolled agents.

    Training content

    • What's New for 2016, Form 1099-MISC
    • Corrections of Form 1099-MISC
    • FATCA Filing
    • Medicaid Waiver PaymentsForm W-9
    • What Is a TIN?
    • Who Completes a W-9?
    • What to Do With Disregarded Entities1099-MISC Rules
    • What Is the Difference Between Box 3 and Box 7?
    • Where Do You Report Legal Settlements and Medical Payments?
    • When Are 1099-MISC Forms Due to Recipients and the IRS?Other 1099-MISC Considerations
    • Back-up Withholding and B Notices
    • Penalties


    The cost of this IRS Form 1099-MISC Reporting Requirements and Updates live webinar is $219 per participant.

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    Lorman Education Services
    Lorman Education Services
    2510 Alpine Road
    54702 Eau Claire Wisconsin

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