1099 Reporting: 2018 and Beyond

Authored by Marcia Miller
About this Course
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
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NASBA Field of Study
Taxes
Level
Intermediate
CPE Credits
2.0
Prerequisites
Basic understanding of 1099 Reporting.
Last Updated
10/01/2018
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