RECORDED TRAINING COURSE 1.5 CEUs HRCI Approved
Businesses reported contract labor pay in box 7 of Form 1099-MISC. That has changed for 2020 with the new Form 1099-NEC being introduced. This webinar will cover what transactions are reportable on the 1099-MISC and 1099-NEC; filing issues, penalties, and how to get out of penalties; how to tell the difference between a contractor and an employee; compliance tips including proper usage of Form W-9; a line-by-line discussion of the W-9; and how Form 1099-K interacts with the 1099-MISC and 1099-NEC.
- An overview of the new 1099-NEC
- Who needs to file 1099s
- What payments are reportable
- 2020 changes to the 1099-MISC
- Filing 1099s with the IRS, including due dates and the e-filing mandate
- Penalties for late filing
- Getting out of penalties
- Form CP-2100 letters: what they are and how to respond
- How to tell the difference between a contractor and an employee
- Using Form W-9 for compliance
- Line-by-line through the W-9
- Other compliance tips
- How Form 1099-K interacts with the 1099-MISC and 1099-NEC
Why You Should Attend:
Who Should Attend:
- Human resources Professionals
- Tax Managers
- Accounting Managers
*In this Recorded Session, you can listen to Q&A which includes direct answers from our expert speaker.
**Recorded Version: Unlimited viewing for 365 days ( Access information will be emailed 36 hours after the completion of live webinar).