1099 Classification and Reporting (Currently Unavailable)

Avoid penalties! Make sure you are current on worker classification rules and reporting requirements with these on-demand courses. Apply the worker classification approach used by the IRS. Learn the costly consequences of mis-classifications of employees as well as Safe Harbor Rules & Remedies - Section 530 & Form 8919.

Learn the best practices for eliminating 1099 error notices from the IRS. Discover the power of the TIN Matching system. 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.
This course covers the rules on how workers are classified as employees or contractors for federal tax purposes. The significance of the classification is also addressed.
How do you know whether you can accept a W-9 from someone or you must request a W-8 instead? What if you send them a 1099 when you should have sent them a 1042-S. How will you deal with the IRS demand for the backup withholding you failed to deduct from the Nonresident Alien’s (NRA’s) payments? The IRS is working hard to reduce the delinquent tax burden. They know we are becoming relatively compliant with our 1099 reporting, but they also know we are far less sure of ourselves when it comes to identifying and performing backup withholding on our NRA’s. Collecting the tax due from NRAs working in the U.S. is a Tier 1 audit issue. This tax burden is minimized when companies making payments to NRAs for dependent and independent personal services properly withhold on these payments.
As another year passes, we still are following the complicated revisions and repeals of the 1099 rules and the recent introduction to the IRS "amnesty" program for misclassified workers. It is imperative that we look back to the history of information reporting and be familiar with the rules that still remain or have been added to keep us compliant in the future.
This course reflects the tax law before the enactment of TCJA.
Total: 5 courses (11 CPE hours)

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