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W-9 Best Practices - v10 (Course Id 1693)

QAS / Registry / EA
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Author : Steven D Mercatante, Tax Attorney, Author
Course Length : Pages: 25 ||| Review Questions: 8 ||| Final Exam Questions: 13
CPE Credits : 2.5
IRS Credits : 2
Price : $22.45
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 1693

Description :

IRS Form W-9 requires organizations like yours to collect very specific information about your payees. Besides regulating withholding, payers must make sure that the forms are current, complete and accurate. How can you ensure a proper form that will not subject your company to penalties, interest or tax?

In this course, industry expert and corporate tax attorney Steven D. Mercatante Esq. takes a look some of the more common problems experienced by CPA’s, accounts payable, and tax departments related documenting and validating payee information using the IRS Form W-9. He not only identifies the issues, but offers solutions and best-practices for addressing them.

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 : 11-Sep-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 - 1693

Keywords : Taxes, W-9, Best, Practices, v10, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

  • Discover processes for dealing with recent IRS changes to the Form W-9 and a discussion of the new Form 1099-NEC vs. the revamped 1099-MISC
  • Develop policies for validating IRS Form W-9 and get record retention tips
  • Identify strategies for dealing with Form W-9's when multiple names are provided, handling changes in payee information, validating exempt organization payees, and validating your W-9s using the IRS TIN Match Program
  • Discover practices to capture key W-9 data points for use in subsequent 1099 reporting
  • Develop strategies for leveraging the W-9 in B-Notice situations
  • Pinpoint steps that should be taken to handle W-9s from problematic payees such as sole proprietors, single member LLCs, partnerships, LLCs owned by other entities, and corporations
  • Discover backup withholding tips to make your job easier, including a detailed discussion of the Form 1099-NEC and 1099-MISC versus usage of Form 945
Course Contents :

Chapter 1 - W-9 Best Practices


Key W-9 Trouble Spots

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?

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

Your Payee Claims To Be An Exempt Organization: What To Do

Backup Withholding And Reporting

B-Notice Response Best Practices

W-9 Record Retention Tips


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