1099 Compliance: New Rules, New Filing Requirements & New IRS Scrutiny
The 1099 process for 2021 will be more complicated than ever
The IRS hasn’t entirely ditched the old Form 1099-MISC, which means you may have two different sets of 1099s to file. (And it’s still not clear yet whether Form 1099-NEC will be incorporated into the IRS’ combined filing program, which alleviates you from having to file the same form with state tax departments.)
Plus, the IRS has rolled out extensive new e-filing requirements that change the way you count 1099s to determine whether you’re a mandatory e-filer. These requirements drop the mandatory e-filing threshold quickly and substantially. Also, employers are facing intense new scrutiny of their 1099s from the IRS—and forms filed in the wrong medium (even correct forms!) can trigger millions of dollars in tax penalties.
The best defense for your payroll department is to learn about all these changes now through our timely new webinar recording, led by payroll expert Alice Gilman, Esq., editor of Payroll Legal Alert.
Agenda for 1099 Compliance:
- What's changed with 1099s and how you should respond
- 3 crucial rules to determine if you need to file 1099 forms
- 8 airtight steps for completing 1099s that will keep the IRS off your back—forever
- Crucial moves in the next month to keep your 1099 process on track
- Box-by-box reporting requirements for Form 1099-NEC and Form 1099-MISC
- Why you may need to give 1099s to employees, too—not just independent contractors
- How to tell if a contractor's Taxpayer ID Number is legit and what to do if it's not
- The 6 crucial moves to activate the new safe harbor for de minimis math errors
- Two free IRS services that should wipe out penalties for filing incorrect forms
In this 75-minute training, you will learn how to:
- Get compliant.
Get started on your 2021 forms to ensure compliance.
- Properly fill out the forms.
Complete each form correctly; get a box-by-box explanation.
- Learn what has changed.
Stay in compliance with complicated new e-filing rules to avoid huge IRS tax penalties.
View a free clip:
Your Presenter:
Alice Gilman, Esq., is an expert in payroll and tax compliance who has covered payroll issues for more than 26 years. She's written and edited several leading payroll publications, including Payroll Legal Alert, the Research Institute of America's Payroll Guide, the American Payroll Association's Basic Guide to Payroll and the Payroll Manager's Letter.
Professional Certification Credit Hours Included:
Business Management Daily is recognized by SHRM to offer Professional Development Credits (PDC) for SHRM-CP® or SHRM-SCP® recertification activities.
HRCI has pre-approved this activity for recertification credit toward the aPHR®, PHR®, PHRca®, SPHR®, aPHRi™, PHRi™, GPHR® and SPHRi™ certifications. The content of the activity submitted has met the criteria of the Approved Provider Program.
Your satisfaction is unconditionally guaranteed:
If 1099 Compliance: New Rules, New Filing Requirements & New IRS Scrutiny fails to meet your needs, we will refund every penny you paid – no hassles, no questions asked.