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100-minute live streaming program
  • July 19
  • 1:00 - 2:40 pm EST

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1099 Reporting of Payments to Attorneys and Other Third Parties

July 19

Make sure you are in compliance when reporting payments made to attorneys and other third parties.

Gain insight as to the Internal Revenue Service's reporting requirements for payments made to an attorney in connection with legal services (whether or not the services performed are for the benefit of the payor). The IRS reminds us that all third-party payers, such as small businesses or individuals, are required to annually report payments made to subcontractors, attorneys, architects and other service providers. Learn about Internal Revenue Code Section 6050W which requires banks and other payment settlement entities (PSEs) to report gross annual receipts for merchants on Form 1099-K.

You will be provided with the knowledge to ensure compliance with these laws regarding these payments and advise payors of their responsibilities.

Learning Objectives

- You will be able to review IRS reporting requirements of back pay or wage settlements.

- You will be able to explain Attorneys' Fee Rule.

- You will be able to discuss credit card reporting on Form 1099-K.

- You will be able to recognize legislative updates.

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

1099 Reporting for Settlement Agreements
  • Gross Proceeds Paid to Attorneys
  • Taxable Claimant Payments
  • Punitive Damage Awards
  • IRS Reporting Requirements of Back Pay or Wage Settlements
Middleman Regulations (SEC 6041)
  • Attorneys' Fee Rule
  • Middleman Payments
Other Third Party Reporting Requirements
  • Impact of 1099-K Reporting
  • Online Merchants Reporting Requirements
  • Possible Backup Withholding Issues
2017 Legislative Updates
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on July 19, 2017.

Call 1-866-352-9540 for further credit information.

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  • AIPB 2.0
     
  • This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • AR CLE 1.75
     
  • This course has been approved for 1.75 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CO CLE 2.0
     
  • This program may qualify for 2.0 credit hours through the Colorado Supreme Court Board of Continuing Legal and Judicial Education through reciprocity. This course is accredited in other jurisdictions such as New Jersey. To receive CLE credit for this program, a home study affidavit must be submitted to the Supreme Court Board of Continuing Legal and Judicial Education.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • GA CLE 1.7
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.7 CLE hours.
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • MO CLE 2.0 (Pending)
     
  • MS CLE 1.7 (Pending)
     
  • This program has been submitted to the Mississippi Commission on Continuing Legal Education. Approval pending.
     
  • MT CLE 1.75
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.75 CLE credits.
     
  • NC CLE 1.5 (Pending)
     
  • NH MCLE 1.7
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 100 Minutes.
     
  • NJ CLE 2.0
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 2.0 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 2.0
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 2.0 hours of CLE credit.
     
  • TN CLE 1.66 (Pending)
     
  • This program has been submitted as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.66 hours of credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WA CLE 1.75
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.75 hours of credit.
     
  • WI CLE 2.0
     
  • This program has been approved by the Board of Bar Examiners for 2.0 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 2.0
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 2.0 MCLE hours.
     
  • Enrolled Agents 2.0
     
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     
  • CPE 2.0 including Taxes 2
     
  • Lorman Education Services 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 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 web site: www. learningmarket.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.0 hours. Prerequisite: basic knowledge of taxation. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Taxation for 2.0 hours.
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 2.0 hours of continuing professional education.
     

Audio & Reference Manual

No credit available.

MP3 Download

No credit available.

Who should attend?

This live webinar is designed for accountants, CFOs, controllers, accounts payable professionals, tax managers, tax preparers, presidents, vice presidents, bookkeepers, enrolled agents and attorneys.

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Marcia L. Miller, M.B.A, E.A.

Marcia L. Miller, M.B.A, E.A.

Financial Horizons, Inc.

  • President and owner of Financial Horizons, Inc., a full service accounting and tax firm
  • Enrolled agent entitled to practice before the Internal Revenue Service
  • 40 years of accounting, tax and management consulting in South Florida for a practice with an emphasis on representing small business owners in all aspects of taxes, employment and labor issues, pensions, estate planning as well as federal, state (nationwide) and foreign mandatory reporting
  • Member - Internal Revenue Service's Information Reporting Program Advisory Committee
  • (IRPAC) - Appointment continues for a three year term through December 2017
  • Author, speaker and teleconference expert for various national companies and accounting organizations at their annual conferences, lecturing on a multitude of tax, technical and nontechnical topics focusing on the areas of tax planning, management and health care reform
  • Managing director, Transition Advisors, LLC, leading CPAs through transition with succession and M & A strategies
  • Live presenter at the 2016 CCH Annual User's Conference and FICPA Chapter meetings regarding Succession Planning for CPAs
  • Previous nationwide presenter of tax legislative seminars for Thomson Reuters' Bell Learning
  • Series on current business taxation and accounting issues
  • Former adjunct professor at Nova Southeastern University's H. Wayne Huizenga School of Business and Entrepreneurship
  • M.B.A. and B.B.A. degrees, University of Miami School of Business
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 400601
Published 2017
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