The IRS is paying close attention to third-party payers, including small and mid-size businesses, and how they report payments made to attorneys and claimants on Forms 1099-NEC and 1099-MISC.
During this must-attend session we will explore:
• How to comply with IRS rules when reporting attorney fees and other third-party payments
• What to do when you must 1099 report settlement payments to claimants
• Documentation requirements and instructions for Forms 1099-NEC and 1099-MISC
Plus, you will learn what your organization needs to be doing now to be meet reporting deadlines and ensure compliance. In this program, industry expert and corporate tax attorney Steven D. Mercatante Esq. takes a look at some of the more common problems related to documenting, validating, and reporting 1099 settlement/attorney payments.
Instructional MethodGroup: Internet-based
NASBA Field of Study
Taxes (2 hours)