The 1099 forms are confusing ... can you afford to only grasp the basics?
Independent contractors save your business money, but increasing IRS scrutiny can put you at risk. Fail to meet all the 1099 filing requirements, and you may land in a hotbed of penalties. With a maze of 1099 forms, and confusing and ever-changing IRS reporting guidelines, mastering the 1099 can be a daunting task for any business.
Attend this informative seminar and sharpen your 1099 savvy. Develop better, more accurate reporting skills - keep your business audit-ready and in compliance. Determine a worker's status without hesitation - every time - and stay current and in the clear.
Benefits for You
- Survive 1099 reporting in lawsuits and settlements
- Pinpoint when to issue a W-2 or 1099 form
- Navigate payments to non-U.S. workers with confidence
- Walk through the three common types of 1099 forms with ease
- Confidently correct errors - subdue even the toughest filing mistakes
Who Should Attend?
This seminar is designed for accountants, CFOs, controllers, accounts payable professionals, tax managers, enrolled agents, presidents, vice presidents and bookkeepers.
Beginning in early 2010, the IRS commenced a three-year employment tax audit initiative known as the National Research Project (NPR), which is the most comprehensive study of employment tax compliance in decades and will target 6,000 employers. Both the IRS and Congress believe that employment tax noncompliance is a serious and growing drain on the Treasury.
This webinar will provide an overview of some of the potential issues that can arise in this type of examination so that you can be in a position to properly advise your clients as to what to expect and also help the client arrive at a satisfactory resolution.
Topics to be covered will include
- Worker Classification—What tests or factors do the IRS and the courts use to classify a worker as an employee vs. an independent contractor
- Section 530 Relief—What is this and when is it available
- Proposals to scale back Section 530 and prevent misclassification
- Penalties for misclassified workers and mitigation
- Scope of NRP audits and sources of information IRS will review
- What fringe benefits are subject to employment tax
- What issues arise in the area of executive compensation (section 409A)
- Information return requirements
- When do criminal penalties come into play (section 7202)
- What steps should a business be taking to ensure compliance
The webinar will be held on April 20, 2011. To register, go to www.msba.org/calendar/default.asp