Form 1099 Filing Essentials: A to Z

Regardless of its structure (sole proprietor, corporation, etc.) that makes "reportable transactions" during the year, any business must issue a 1099 to the recipient of income and the IRS. 

In this webinar, 1099 expert Jason Dinesen (EA, LPA) will walk through the basics of 1099 reporting, explain areas of most importance, and discuss the implications of not doing the 1099 process per the IRS rules. This information-packed webinar will provide a broad understanding of Form 1099 reporting, with a special focus on the most common forms: 1099-NEC and 1099-MISC. You’ll learn the key elements needed to comply with IRS requirements and discover how best to respond to IRS communications.

Form 1099 is a critical part of the IRS's information reporting system, used to track income that might not otherwise be reported. To stay compliant, practitioners must know which form to use to report specific transactions when forms must be filed or furnished to recipients to be on time, which information to include, and how to make sure it is accurate.

This webinar aims to demystify the complexities of the Form 1099 series, providing participants with the knowledge and tools needed to comply with IRS requirements, avoid penalties, and manage their tax obligations effectively. 

• Identify the key elements for a successful 1099 reporting process.
• Discover the 1099 reporting requirements and how to recognize when those payments are reportable.
• Explore the 1099-NEC/MISC rules and requirements.
• Identify how to use the W-9 to collect the correct information from a third party.
• Discover how to use the IRS TIN Matching Program and identify how it can ensure the correct information is used.

Form 1099 Filing Essentials is a crucial aspect of tax compliance for businesses, contractors, and individuals in the United States. Form 1099 is an information return that businesses and other entities use to report payments made in the course of trade or business to the IRS and the recipient of the payment. The form serves to inform the IRS about taxable income that may not be reported on a traditional W-2 form, which is used for employee wages.