ComplianceOnline

1099 & W-9 Update - Complying with IRS Information Reporting Guidelines

Instructor: Miles Hutchinson
Product ID: 703220
  • Duration: 100 Min

recorded version

$249.00
1x Person - Unlimited viewing for 6 Months
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Recorded Link and Ref. material will be available in My CO Section

Training CD

$349.00
One CD is for usage in one location only.
(For multiple locations contact Customer Care)
CD and Ref. material will be shipped within 15 business days

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Fax: +1-650-963-2556

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Read Frequently Asked Questions

This IRS regulatory compliance training will focus on the rules requiring W-9 documentation and 1099 reporting. Attendees will learn the best practices to ensure compliance with IRS and avoid B-Notices.


"1099 & W-9 Update - Complying with IRS Information Reporting Guidelines" - This course is approved by NASBA (National Association of State Boards of Accountancy). Attendees of Live Webinar are eligible for 2 CPE credit up on full completion of the course.

Why Should You Attend:

  • What are the rules regarding paying and IRS reporting on independent contractors?
  • How do I avoid the IRS CP-2100 (B-Notices)?
  • What if my vendor claims exemption - must I obtain a W-9 anyway?
  • What are the best practices?
  • How can I minimize risk of improper exemption claims by my vendors?

Get the answers to these and related questions to reduce your risk of huge penalties from the IRS.

This webinar will cover the rules requiring W-9 documentation and 1099 reporting. Learn how to establish the independent contractor relationship with the right documentation. Understand the rules and keep your company in compliance. Ensure that your records will stand the scrutiny of an IRS 3rd party documentation and reporting audit. Avoid the onerous penalties for noncompliance and build the best defense against the 972-CG Notice of Proposed Penalty Letter.

Areas Covered in the Webinar:

By attending this webinar, participant will gain the following insights:

  • How can we best set up an independent contractor in our vendor payment system to ensure compliance with the IRS reporting rules?
  • Protocols for setting up new vendors (ICs).
  • When to require a Form W-9?
  • How to test the accuracy of the W-9 information with the IRS’s records – for free!
  • Who and what you pay determines whether you must report (1099 reporting)
  • Forms to use to document your independent contractor as reportable or non-reportable.
  • Required governmental reporting on ICs.
  • Form 1099-Misc – guidelines for proper use and classification of diverse payments on this form.
  • Best practices for filing 1099s with the IRS
  • The government wants to remove the exemptions – what this means to you.

Who Will Benefit:

  • Bank Managers
  • Compliance Officers
  • Information Reporting Officers
  • Tax Managers
  • CFOs
  • Controllers
  • Accounting Managers
  • Auditors
  • IT Managers
  • Compliance Managers
  • Risk Managers
Instructor Profile:
Miles Hutchinson

Miles Hutchinson
President, Sales Tax Advisors Inc

Miles Hutchinson is a CGMA and experienced businessman. He has been an auditor with PriceWaterhouseCoopers and the chief financial officer of a $1 billion real estate development company. Mr. Hutchinson is a professional speaker and consultant who has presented over 2,000 seminars and training sessions on myriad business and financial topics, like financial analysis and modeling, accounting, strategic planning, and compliance with the Sarbanes-Oxley Act. He is recognized as an expert in payroll, and sales and use tax as well as financial modeling and analysis, business strategy and communications.

He is the author of several useful accounting and tax tools. His clients include Abbott Labs, Bank of America, Boston Scientific, Citicorp, Corning, the FBI, the FDA, the Federal Reserve, GE, Pfizer, Siemens, US Marine Corps, and the US Army.

Topic Background:

For years the IRS has struggled with the independent contractor and tax collection. In assessing opportunities to close the tax gap (taxes due but not reported or paid), one of the greatest opportunities comes from expanding the information reporting on taxpayers by payors – the 1099. This time consuming reporting obligation can be streamlined in a number of ways.

We are registered with and adhere to the Statement on Standards for Continuing Professional Education programs of the National Registry of CPE Sponsors. Our registration number is 109066. Please check with the governing body of your license and state for specific CPE requirements. Grievances may be forwarded to the company at 650 620 3961. Grievances may also be forwarded to the National Registry of CPE Sponsors-NASBA, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417, 615-880-4200, www.learningmarket.org, e-mail cpe@nasba.org.

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