TIN Matching, B Notices and Backup Withholding: Best Practices for Form 1099 Compliance

Date Nov 6, 2019
Time 1:00pm EST
Cost $159.00
Online
OVERVIEW
Issuers of 1099 Forms can adopt best practices and procedures that streamline the year end process and provide assurance that 1099s are correct, at least so far as vendor names and TINs are concerned. While certain errors in reporting dollar amounts are considered “inconsequential” under new de minimis error rules, errors in the payee name or TIN are never considered inconsequential and can result in penalties.
The webinar will discuss the solicitation process including solicitation using and analyzing Form W-9, annual solicitations, backup withholding B-notice and solicitations in response to IRS notices, and what to do when the vendor does not provide a TIN or provides an incorrect TIN.
WHY SHOULD YOU ATTEND
Year end is a busy time for Accounts Payable. With the acceleration of the due date for certain 1099 Forms and the increased penalties, it is more important than ever to prepare information returns correctly and file them on time. Preparation well in advance of the filing season is critical.
This webinar discusses how to establish procedures and best practices, including name/TIN verification, that avoid situations that can lead to penalties or, when such situations occur, establish the reasonable cause defense that allows you to avoid the penalty.
AREAS COVERED
  • Reminders, backup withholding rate 2019 and what’s new
  • IRS TIN matching system
  • Penalties
  • Establishing reasonable cause
  • Solicitations
  • TIN verification
  • Notices
  • Federal Backup withholding
LEARNING OBJECTIVES
  • Know how to register individuals to use the IRS TIN verification system and set up a company account.
  • Know how to submit names and TINs for verification.
  • Know the steps to properly follow up on a mismatch indicated by the TIN verification system.
  • Understand the importance of TIN solicitation using Form W-9 and follow up solicitations where necessary in establishing due diligence and reasonable cause for purposes of penalty avoidance.
  • Know how and when to issue B-notices to vendors and what to do when the payee responds or fails to respond.
  • Know what to do when a payee fails to provide a TIN.
  • Understand backup withholding, when to start it, when to stop it, and how to deposit and report it.
WHO WILL BENEFIT
  • CFOs and controllers
  • Accounts payable and accounting managers
  • Accounts payable processing professionals
  • Employers and Business owners
  • Purchasing managers and professionals
  • Public accountants, CPAs and Enrolled Agents
Use Promo Code FALL19 and get flat 30% discount on all purchases
To Register (or) for more details please click on this below link:
http://bit.ly/2OgqPRn
Email: support@trainingdoyens.com
Toll Free: +1-888-300-8494
Tel: +1-720-996-1616
Fax: +1-888-909-1882

 


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