This interactive session will cover the changes to Form 1099 reporting. In particular, the reporting of contract labor is changing. Businesses will no longer report contract labor on Form 1099-MISC box 7; instead, those payments will be reported on the new Form 1099-NEC. We will discuss other contractor issues, including deciding who is a contractor and handling reimbursements to contractors.
WHY SHOULD YOU ATTEND?
Attendees will learn about the changes to Form 1099-MISC for 2021, including the new Form 1099-NEC. This represents the first major change in 1099 reporting in many years. The course will also include valuable refresher training on other 1099 and contractor topics.
LEARNING OBJECTIVES
- The new Form 1099-NEC
- Who issues 1099s
- What transactions are reportable
- Who gets 1099s
- Filing issues: penalties and e-filing
- IRS CP-2100 letters
- Contractor vs. employee: how to tell the difference
- Reimbursements to contractors
- Form 1099-K and how it interacts with the 1099-NEC and 1099-MISC
- Do rental owners issue 1099s?
- Form 1099-C and unpaid invoices: okay to issue a 1099 to a non-paying customer?
WHO WILL BENEFIT?
- Payroll professionals
- Bookkeepers
- Office managers
- Human resources professionals
- Tax and accounting professionals
Attendees will learn about the changes to Form 1099-MISC for 2021, including the new Form 1099-NEC. This represents the first major change in 1099 reporting in many years. The course will also include valuable refresher training on other 1099 and contractor topics.
- The new Form 1099-NEC
- Who issues 1099s
- What transactions are reportable
- Who gets 1099s
- Filing issues: penalties and e-filing
- IRS CP-2100 letters
- Contractor vs. employee: how to tell the difference
- Reimbursements to contractors
- Form 1099-K and how it interacts with the 1099-NEC and 1099-MISC
- Do rental owners issue 1099s?
- Form 1099-C and unpaid invoices: okay to issue a 1099 to a non-paying customer?
- Payroll professionals
- Bookkeepers
- Office managers
- Human resources professionals
- Tax and accounting professionals
