Form W-9: Payee Identification and Tax Determination

$219.00

SKU: 411222

Description

Prevent costly penalties and learn how to safely manage requirements and procedures surrounding Form W9.
In recent years, the IRS has stepped up its compliance efforts in the area of information reporting and withholding, including Forms 1099 and backup withholding. The Service has greatly enhanced its technological capabilities and more companies are now receiving automated notices and penalties for noncompliance. This topic will help U.S. withholding agents better understand the requirements for collecting and validating Forms W9 and correctly reporting the information on Form 1099. It will also address common mistakes and best practices to enhance operational efficiency and avoid penalties. In situations where the IRS has already issued a penalty notice, the material will also discuss the strategies and procedures for drafting a response.

Date: 2024-04-25 Start Time: 1:00 PM ET End Time: 2:40 PM ET

Learning Objectives

* You will be able to define who is considered an exempt recipient for Form 1099 reporting.

* You will be able to describe the different types of Form 1099 reporting.

* You will be able to discuss the benefits of using the IRSs TIN matching program.

* You will be able to explain the penalties that may be assessed if Form 1099 reporting is not performed correctly.

Due Diligence
• Documenting U.S. Persons
• Form W-9 Validation and Common Mistakes

Reporting
• Determining Who to Report
• Deadlines and Extensions

Backup Withholding
• B Notices
• TIN Matching

Penalties
• Penalty Notices
• Penalty Abatement

AIPB ,Enrolled Agents ,CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Andrew McQuilkin-KPMG LLP

Form W-9: Payee Identification and Tax Determination

$219.00

SKU: 407447

Description

Prevent costly penalties and learn how to safely manage requirements and procedures surrounding Form W9.
In recent years, the IRS has stepped up its compliance efforts in the area of information reporting and withholding, including Forms 1099 and backup withholding. The Service has greatly enhanced its technological capabilities and more companies are now receiving automated notices and penalties for noncompliance. This topic will help U.S. withholding agents better understand the requirements for collecting and validating Forms W9 and correctly reporting the information on a Form 1099. It will also address common mistakes and best practices to enhance operational efficiency and avoid penalties. In situations where the IRS has already issued a penalty notice, the material will also discuss the strategies and procedures for drafting a response.

Date: 2020-07-30 Start Time: 1:00 PM ET End Time: 2:40 PM ET

Learning Objectives

* You will be able to define who is considered an exempt recipient for Form 1099 reporting.

* You will be able to describe the different types of Form 1099 reporting.

* You will be able to discuss the benefits of using the IRSs TIN matching program.

* You will be able to explain the penalties that may be assessed if Form 1099 reporting is not performed correctly.

Due Diligence
• Documenting U.S. Persons
• Form W-9 Validation and Common Mistakes

Reporting
• Determining Who to Report
• Deadlines and Extensions

Backup Withholding
• B Notices
• TIN Matching
• Deposits

Penalties
• Penalty Notices
• Penalty Abatement

AIPB ,CPE ,Enrolled Agents ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Andrew McQuilkin-KPMG LLP