Form 1099-MISC Updates for 2020
Duration : 60 Minutes
Jason Dinesen,
Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert and a well-known presenter of continuing education courses.
Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance Read more
This course will explain the changes relating to Form 1099-MISC for 2020, in particular the changes to how contract labor pay is reported. The IRS has created a new form, called Form 1099-NEC, where contract labor pay will be reported. We will cover these changes, as well as how to tell the difference between a contractor and an employee; due dates; penalties; and how Form 1099-K interacts with the 1099-MISC and 1099-NEC.
Why Should You Attend:
Learn about the Form 1099 changes for 2020 to make sure you understand your reporting obligations, report contract labor pay correctly and avoid compliance penalties.
Course Outline:
• What’s new — the new Form 1099-NEC
• The basics, including who issues 1099s, what transactions are reportable, and who gets 1099
• Form 1099-MISC changes for 2020
• Due dates
• Penalties and ways out of penalties
• Using Form W-9 for better compliance
• TIN verification
• IRS letters and how to respond
• Backup withholding
• Employee vs. contractor: why it’s important and how to tell the difference
• Paying reimbursements to contractors: 1099 reportable or not?
• Form 1099-K and its interaction with the 1099-MISC/1099-NEC
What You Get:
• Training Materials
• Live Q&A Session with our Expert
• Participation Certificate
• Access to Signup Community (Optional)
• Reward Points
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
• Compliance Officers
• Information Reporting Officers
• Tax Managers
• Auditors
• Risk Managers
Please reach us at 1-888-844-8963 for any further assistance or if you wish to register
100% MONEY BACK GUARANTEED
Refund / Cancellation policyGet In Touch
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