Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2026 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
Form 1099 Essentials is the course that will help you understand what 1099 reporting is, why it is important, and what could happen to your company if it is not done. In one information packed course you’ll gain a broad understanding of Form 1099 reporting, with special focus on the Forms 1099-NEC and 1099-MISC. You’ll learn the key elements needed to comply with IRS requirements and discover how best to respond to the IRS.
Publication Date: June 2023
Designed For
If you are new to 1099 reporting, you supervise 1099 compliance, or if you have questions and would benefit from a refresher.
Topics Covered
- The key elements that make for successful 1099 reporting
- What you are required to report on Form 1099 and how to recognize when those payments are reportable
- An in depth-look at the Form 1099-NEC/MISC boxes, the most commonly used forms for 1099 reporting
- What information you need from your payee to properly report a payment
- How to use the W-9 to collect the correct information and when you are required to obtain a signed W-9
- How to use the IRS TIN Matching Program and how it can help ensure the information you have is correct
Learning Objectives
- Identify the key elements needed to comply with IRS requirements and identify how best to respond to the IRS
- Recognize what you are required to 1099 report and when those payments are reportable
- Identify Form 1099-NEC/MISC boxes
- Describe what information you need from your payee to properly report a payment
- Recognize how to use the W-9 to collect the correct information and when you are required to obtain a signed W-9
- Identify how to use the IRS TIN Matching Program and how it can help ensure the information you have is correct
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Steven D. Mercatante
Steven Mercatante is the principal and founder of TIR Consulting, LLC. He is a nationally recognized leader in tax reporting education and consulting on specialized compliance issues. He has conducted on-site consultation for corporate clients from across the world and led countless seminars and webinars for Convey Compliance Systems, IAPP, Balance Consulting, The Accounts Payable Network, Accounts Payable Now and Tomorrow, Progressive Business Conferences, The Center for Competitive Management, and more.
He is also a published author, with numerous articles published on tax and financial law, and he has authored and published a series of tax guides on topics such as: W-9/1099 & W-8/1042-S compliance and reporting, payment cards, U.S. State & Local Reporting, worker compensation issues, international tax compliance, and more.