TIN Matching to Reduce Your B-Notices and Eliminate Proposed Penalties

Why Should You Attend:

How do you know your vendor’s W-9’s are correct? What are the consequences of filing incorrect name and ID numbers on their 1099’s?

In just 90 minutes, you can begin to develop a solid plan to move your company toward near absolute regulatory compliance, efficiency improvements, standardized processes, & adequate documentation to ensure your 1099’s contain accurate information that will agree with the IRS’s records. You will all but eliminate your B-Notices from the IRS!

Learning Objective:

• Learn the best practices for eliminating 1099 error notices from the IRS.
• Discover the power of the TIN Matching system.
• Discover the smoothest way to register to use the two step verification process introduced 12/10/17.
• Learn how to handle the CP-2100 notices from Uncle Sam and avoid the fines & penalties for failure to timely comply with the B-Notice requirements.
• Understand the difference between and 1st and 2nd B-Notice and the related differences in required vendor responses.

Be sure you institute and stop Backup Withholding when required. Join us for a content-rich 90 minutes and you will gain the tools to make you the most effective information return manager your company has ever seen.

Areas Covered in the Webinar:

• Starter Question: What is TIN Matching?
• What are the benefits of the TIN Matching System?
• Who must request access to the TIN Match system?
• How do we register to use the system, including the 2-step verification system introduced 12/10/17?
• How does the TIN Match system work?
• What are the best practices for managing 1099 reporting requirements?
• How do I deal with vendors who report incorrect information on their W-4’s?
• B-Notices: when I receive a letter from the IRS stating I have incorrect names/TINS on my 1099’s, what must I do and what about the deadlines?
• What if I receive a Notice of Proposed Penalty?
• How do we negotiate a reduction or eliminate the penalty?
• How do we leverage the Reasonable Cause Regulations?
• How does TIN Matching impact the fight to reduce proposed penalties?

Attend this webinar and you will learn the answers to all of these questions!

Who Will Benefit:

• CFOs
• Controllers
• Compliance Managers
• Accounting Managers
• Accounts Payable Managers
• Any institution that makes reports on forms 1099-INT, 1099-B, 199-DIV, 1099-PATR, & 1099-MISC

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 available at www.soxpolicies.com and www.salestaxadvisors.com. 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.

Recently Asked Questions:

1. What is the best way to ensure our W-9 records are correct?
2. Is it legal to withhold payment for failure to provide a W-9?
3. What if we back-up withhold, and the payee submits their W-9 and requests a refund of the withheld tax?
4. What if we didn’t know about the CP-2100 and it was lost for weeks in someone’s in-box?
5. Where can we get more information about the Reasonable Cause penalty defense letter?
6. We received our 972-CG and we are getting penalties for IOTA accounts and Trust Accounts that were opened in our customer social, so the trust is listed as a missing social. Why are these showing up on our 972CG and how do we respond?
7. We received notice 972CG without a CP-2100. Is that usual?

Topic Background:

For many years, the IRS has placed the burden on businesses, non-profits and not-for-profits as well as all levels of government to report information about taxable payments they make to their vendors and customers. In order to more accurately match our information reporting to taxpayer’s tax returns they have introduced an “e-services” portal to help us ensure the names and tax identification numbers provided to us by our payees match their records. When used properly, this system can reduce the risk of warning letters (CP-2100s/B-Notices) and penalty notices (972-CGs) from the IRS.

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