Understanding the latest 1099-K Filing Requirements - 7/12/23 (2PM EST) (Completed)

It is vital for any organization to remain compliant regarding its use of payment cards and associated Form 1099-K Federal and State reporting by following current reporting guidelines and staying abreast of the latest trends. If you would like to improve payment card compliance and better understand your due diligence responsibilities or the law, or are seeking to learn where and how to avoid triggering p-card related reporting then join us for this live, 60-minute program.

In this course, industry expert and corporate tax attorney Steven D. Mercatante Esq. takes a look at some of the more common problems experienced by CPAs, accounts payable, and tax departments related to documenting, validating, and reporting payee information on IRS Form 1099-K. He identifies key issues and best-practices for addressing them.

Topics Covered

• IRS Focus: The Tax Gap
• The Law
• What's New
• What's New: 1099 Filing and Reporting
• The Form 1099-K
• 1099-K Data Validation Basics
• 1099-K filing
• 1099-K trouble spots and issues
• Watch Out For 1099-K state level compliance and filing issues

Learning Objectives

• Determine form 1099-K filing deadlines, procedures, and exceptions
• Identify what's new in payment card compliance and Federal Form 1099-K reporting
• Recognize Who must file Forms 1099-K
• Identify Accounts payable due diligence responsibilities associated with the use of payment cards
• Discover your 1099-K state level compliance and reporting requirements
• Identify how to use TIN verification processes to ensure Forms 1099-K filed are correct

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (1 hour)

Program Prerequisites
A basic understanding of Form 1099 filing.

Advance Preparation
None