How do you know your vendor’s W-9’s are correct? What are the consequences of filing incorrect name and ID numbers on their 1099’s? For many years, the IRS has placed the burden on businesses, non-profits and not-for-profits to report information about taxable payments they make to their vendors and customers. In order to more accurately match our information reporting to taxpayer’s tax returns, the IRS has introduced an “e-services” portal to help us ensure the names and tax identification numbers provided to us by our payees match their records. When used properly, this system can reduce the risk of warning letters (CP-2100s/B-Notices) and penalty notices (972-CGs) from the IRS.
In 90 minutes, this webinar will help you to develop efficient, standardized processes that ensure regulatory compliance, and adequate documentation that will comply with the IRS’s records. Learn the best practices for eliminating 1099 error notices from the IRS and discover the power of the TIN Matching system. Learn best practices on how to handle the CP-2100 notices from Uncle Sam and all but eliminate your B-Notices from the IRS. In this webinar, you will learn:
- The TIN Match system: What it is, how it works, how to register, and who must request access
- How to manage and comply with 1099 reporting requirements
- Best practices for dealing with vendors who report incorrect information on their W-4’s
- How to handle B-Notices, including how to correct names/TINS on your 1099’s, and how to comply with IRS deadlines
- Best practices for dealing with a Notice of Proposed Penalty
CPE Credit: Participants can earn up to 1.8 CPE credits in the Taxes field of study. Please note that CPE credit is only available for viewing the live program.
100% Money-Back Cancellation and Refund Policies: If you can’t make the live webinar, you may cancel at any time before the webinar begins for a full refund. If you are not satisfied with the webinar, we will provide you a full refund. For more information regarding refund, complaint and program cancellation policies, please call us at 703-372-0550.
Program Level: Basic
Advanced Preparation: None
Instructional Method: Group-Internet Based
National Registry of CPE Sponsors: Clear Law Institute is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.