Want to avoid IRS penalties for mistakes on Form 1099? Yes, make sure staff has exercised due diligence. Due Diligence involves a written Plan, training staff, and monitoring staff to determine if they have followed the plan. The Plan for accurate Forms 1099 is the development of procedures for an accurate Form W-9. Most mistakes that the IRS identifies on the Form 1099, originates in failure to follow W-9 procedures. IRS penalties not only cost money but also take up valuable time which translates to money.
WHY SHOULD YOU ATTEND?
This course is designed to develop a plan and train and monitor staff to achieve due diligence.
AREA COVERED
- Due Diligence best practices steps
- Most common mismatch problems
- How is a name/TIN mismatch identified
- Use of IRS e-services to avoid mismatches
- Review of W-9 solicitation requirements
- Step by step review of Forms W-9
- 2016 penalty increases against form 1099 preparer
- Resources for W-9 and 1099 compliance
LEARNING OBJECTIVES
- Most common Form 1099 mistakes, development of best practices manual, A Plan
- Contents of best practices manual
- Duties of your W-9 expert
- W-9 compliance steps
- Identifying types of payments requiring a Form 1099
- Identifying types of companies requiring a Form 1099
- Maintaining records to prove due diligence was exercised
WHO WILL BENEFIT?
- CPA, Attorney, EA Firms and Staff
- Firm Accounts Payable Management or Staff
- Owners, Shareholders of Small Businesses and Staff
- Corporate Controllers, Accounts Payable, Financial Managers & Staff
- Non-profit Controllers, Accounts Payable, Staff
This course is designed to develop a plan and train and monitor staff to achieve due diligence.
- Due Diligence best practices steps
- Most common mismatch problems
- How is a name/TIN mismatch identified
- Use of IRS e-services to avoid mismatches
- Review of W-9 solicitation requirements
- Step by step review of Forms W-9
- 2016 penalty increases against form 1099 preparer
- Resources for W-9 and 1099 compliance
- Most common Form 1099 mistakes, development of best practices manual, A Plan
- Contents of best practices manual
- Duties of your W-9 expert
- W-9 compliance steps
- Identifying types of payments requiring a Form 1099
- Identifying types of companies requiring a Form 1099
- Maintaining records to prove due diligence was exercised
- CPA, Attorney, EA Firms and Staff
- Firm Accounts Payable Management or Staff
- Owners, Shareholders of Small Businesses and Staff
- Corporate Controllers, Accounts Payable, Financial Managers & Staff
- Non-profit Controllers, Accounts Payable, Staff
Speaker Profile

Margie Faulk is a senior level human resources professional with over 15 years of HR management and compliance experience. A current Compliance Advisor for HR Compliance Solutions, LLC, Margie, has worked as an HR Compliance advisor for major corporations and small businesses in the small, large, private, public and Non-profit sectors. Margie has provided small to large businesses with risk management strategies that protect companies and reduces potential workplace fines and penalties from violation of employment regulations. Margie is bilingual (Spanish) fluent and Bi-cultural.Margie’s area of expertise includes Criminal Background Screening Policies and auditing, I-9 document correction and storage compliance, …
Upcoming Webinars

Cleanroom, Microbiology and Sterility Assurance Practices f…

Workplace Investigations 101: How to Conduct your Investiga…

Successfully Negotiating the Labor Agreement

Wage And Hour Laws: Ensuring Compliance With The Fair Labor…

Understanding the incredible uses and fallbacks of ChatGPT

5 Key Components of Good Manufacturing Practices to obtain …

How to Manage Conflict in the Workplace

Neutralizing Harassment - How to Promote the Proactive Pers…

Using Better Managerial Decision Making - to get great resu…

Hybrid Workplace: 10 Best Practices to Manage Your Team’s P…

Human Error Reduction Techniques for Floor Supervisors

Changing Behavior: Why Rewards and Punishments Often Aren't…


Using High-Performance Coaching for Managers to Address Per…


Excel - Pivot Tables - The Key To Modern Data Analysis and …

Form W-9 Compliance to Avoid Penalties: TIN Verification, B…

Using Stay Interviews To Improve Employee Retention & Engag…


FDA Technology Modernization Action Plan (TMAP) and Impact …

FDA Audit Best Practices - Do's and Don'ts


Stay Interviews: A Powerful and Low-Cost Employee Engagemen…

Become an excellent Critical Thinker to greatly improve you…

Learn the Do's and Don'ts of Opening Business Bank Accounts


Project Management for HR, Administrative Professionals, an…

2-Hour Virtual Seminar on How to Conduct an Internal Harass…

Writing Effective 483 and Warning Letter Responses

Dealing With Difficult People In Life & Work

Managing Toxic & Other Employees Who Have Attitude Issues