Description
Make sure you are in compliance when reporting payments made to attorneys and other third parties.
Prepare for the new IRS information returns rule in this session that covers the IRS 1099NEC and 1099MISC forms, as well as payment of attorney fees. This comprehensive training will provide detailed guidance on understanding the rules and regulations surrounding these forms, as well as tips to best strategize when paying out attorney fees. Learn more about the processes involved in filing and managing the 1099NEC and 1099MISC forms.
Date: 2023-02-22 Start Time: 1:00 PM ET End Time: 2:40 PM ET
Learning Objectives
* You will be able to explain what information returns are and what they are used for.
* You will be able to identify the differences between the 1099NEC and 1099MISC forms.
* You will be able to discuss when to use the 1099NEC and 1099MISC forms when reporting attorney fees.
* You will be able to describe any special rules or considerations and the filing requirements of forms 1099NEC and 1099MISC.
Overview
• Explanation of What Information Returns Are and What They Are Used for
• Review How the IRS Uses Information Returns in General
• Overview of the Differences Between 1099-NEC and 1099-MISC Forms
1099 Forms
• What Are 1099 Forms, and What Are They Used for
• Overview of the Differences Between 1099-NEC and 1099-MISC Forms
1099-NEC Form
• When to Use the 1099-NEC Form for Reporting Attorney Fees
• How to Report Attorney Fees on the 1099-NEC Form
• Any Special Rules or Considerations for Using the 1099-NEC Form for Attorney Fees
1099-MISC Form
• When to Use the 1099-MISC Form for Reporting Attorney Fees
• How to Report Attorney Fees on the 1099-MISC Form
• Any Special Rules or Considerations for Using the 1099-MISC Form for Attorney Fees
Filing Requirements
• Deadlines for Filing 1099 Forms With the IRS
• How to File 1099 Forms With the IRS (e.g., Electronically or by Mail)
Conclusion
• Recap of the Main Points Covered in the Agenda
• Reminder of Any Important Deadlines or Actions to Take Related to Reporting Attorney Fees on 1099 Forms
AIPB ,Enrolled Agents ,CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Steven A. Leahy-Law Office of Steven A. Leahy, PC
