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Form 1099 Corrections Best Practices - v10 (Course Id 1684)

QAS / Registry / EA
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Author : Steven D Mercatante, Tax Attorney, Author
Course Length : Pages: 33 ||| Review Questions: 11 ||| Final Exam Questions: 18
CPE Credits : 3.5
IRS Credits : 3
Price : $31.45
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 1684

Description :

With Form 1099 errors on the rise, you can’t afford to miss a correction. Form 1099 reporting mistakes cost your company money and waste time, which also costs money.  How can you make corrections to your Form 1099 and avoid costly fines from the IRS? Join us for this highly-informative course.  

In this course, industry expert and corporate tax attorney Steven D. Mercatante Esq. takes a look some of the more common problems experienced by accounts payable and tax departments related to documenting and validating payee information using the IRS Form W-9, 1099 filing mistakes to avoid, and offers solutions and best-practices for addressing 1099 corrections issues.

Usage Rank : 0
Release : 2020
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 20-Aug-2020
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents - 1684

Keywords : Taxes, Form, 1099, Corrections, Best, Practices, v10, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

  • Learn the differences between Form 1099 changes and corrections while learning about recent changes in the law including the introduction of the new IRS Forms 1099-NEC and 1099-MISC
  • Discover the keys to avoiding mistakes
  • Identify strategies to remain IRS compliant when soliciting SSNs & TINs
  • Understand 1099 compliance corrections dos and donts
  • Pinpoint how to avoid hefty fines that plague CPAs, accounts payable, and tax departments
Course Contents :

Chapter 1 - Form 1099 Corrections Best Practices


1099 Data Collection and Validation Basics Using the IRS Form W-9

Watch out for EINs and Determining When You Need to Update Forms W-9

W-9 Red Flags For Non-U.S. Payees

Why Use a W-9 to solicit TIN for 1099 Reporting?

W-9 Solicitation Tips

What Happens If Your Payee Refuses to Provide Their TIN on the W-9?

W-9s and the U.S. vs. Non-U.S. Debate

Validating the W-9: Watch Out for Corporations and LLCs

The IRS TIN Match Program

On the W-9 Your Payee Claims To Be An Exempt Organization: What To Do

W-9 Record Retention Tips

Three or More Parties Involved in the 1099-MISC Reportable Transaction

Get Your Year Right When it Comes to Form 1099 Reporting

The Form 1099-MISC: An Overview

Form 1099-MISC Box One Common 1099 Mistakes

Form 1099-MISC Box 2 Common 1099 Mistakes

Form 1099-MISC box 3 Common 1099 Mistakes

Form MISC Box 4 Common Mistakes

Form 1099-MISC Box 6 Common Mistakes

What Used to Be Box 7 1099-MISC Mistakes Are Now Handled In Box 1 of the Form 1099-NEC

Bottom Line Form 1099 Corrections Processing Tips


CPE Taxes Course: https://www.cpethink.com/tax-cpa-courses
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