Topics covered include:
Information Reporting Rules and Regulations & Its Future Impact for Businesses;
Requirements for Compliance to Avoid New and Recent Changes to Increased Penalty Costs;
Independent Contractor Issues;
IRS Voluntary Worker Classification Settlement Program (VSCP);
Legislative Developments affecting Forms 1099-B, 1099-C & 1099-K.
Upon completing this course, you should be able to:
Identify Internal Revenue Service's plan to minimize the 'tax gap';
Recognize the change of backup withholding rules a result of the Tax Cuts and Jobs Act (TCJA);
Identify the process to request additional time to file information returns;
Recognize the new regulations and learn about 1099 Compliance to avoid costly penalties;
Evaluate penalties under Section 6721 and when to file correct information;
Identify exceptions to penalties and when they apply;
Describe a foreign person and differentiate from 1042 filing requirements;
Recognize reasonable cause factors and relief requirements under Section 530;
Describe types of behavioral controls, financial controls, and the relationship of the parties that courts use to determine employee status;
Recognize Form 1099-K to report credit card payment reported by third parties.
$ 16.00
Course is unavailable for purchase.
NASBA Field of Study
Taxes
Level
Intermediate
CPE Credits
2.0
Prerequisites
Basic understanding of 1099 Reporting.
Last Updated
10/01/2018
14637
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