The seemingly infinite and complicated changes to the 1099 forms require you to stay updated. Many issues reported are commonly a top priority, and there is no better way to stay up to date on the problems than to exercise best practices, practice due diligence, and avoid costly mistakes. According to the IRS Form 1099 are essential, and filling out the form should be done carefully, but there may be time for them to correct it before sending it to the IRS, which is in your best interest. This webinar will give you insight into developing a best practices manual and includes helpful hints on avoiding potential penalties and those time-consuming “B” Notices.

What better way to prepare for the coming Form 1099 filing season than to design and file guidelines current form, along with the latest helpful hints?

Areas Covered:-

• What’s New with Filing Dates?
• How to fill Penalty Increases and Abatements.
• Proper guidelines on filling the compliance responsibility of the Income Tax Preparer.
• Understanding the compliance responsibility of the payer.
• Definition of Due Diligence.

Forms 1099:-

• Understanding and finding ways to identify Types of Payments Requiring 1099s and types of Entities Who Should Receive 1099.
• Enlisting the most common 1099 Mistakes.
• Detail Usage of IRS e-Services to Avoid TIN and Name-Matching Problems