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IRS Form 1099 Reporting: Including Independent Contractor and Litigation Issues

The 1099 forms are confusing … can you afford to only grasp the basics? Independent contractors save your business money, but increasing IRS scrutiny can put you at risk. Fail to meet all the 1099 filing requirements, and you may land in a hotbed of penalties. With a maze of 1099 forms, and confusing and ever-changing IRS reporting guidelines, mastering the 1099 can be a daunting task for any business. Purchase these reference materials and sharpen your 1099 savvy. Develop better, more accurate reporting skills – keep your business audit-ready and in compliance. Determine a worker’s status without hesitation – every time – and stay current and in the clear. Benefits for You •Increase your filing savvy and avoid late filing and failure to file penalties •Perfect your backup withholding rules know-how •Tackle your 1099-R questions •Stay up-to-date on 1099-C regulations
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Why Lorman?

Over 29 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

Overview
— Robert J. Kiggins, Esq.
  • IRS Information Reporting Procedures
  • Purpose of Form 1099 Reporting
  • Due Dates for Providing and Filing Form 1099 Series
  • Penalties for Noncompliance
  • Consequences of Errors With Inaccurate Names and TINs
Most Common Types of 1099s
— Robert J. Kiggins, Esq.
  • Form 1099 MISC, Form 1099-INT and Form 1099-DIV, 1099-R
Employee vs. Independent Contractor Classification
— David R. Golder, Esq. and Robert J. Kiggins
  • Common Law and Statutory Law
  • Misclassification Issues
  • Class Actions
Reclassification From Independent Contractor to Employee
  • Reasons for Reclassification
  • Impact on Employer (Payor)
  • Relief From IRS Reclassification
Backup Withholdings
  • What Is It? What Triggers It?
  • When Does It Start? When Does It End?
  • What Are My Responsibilities?
  • What Can Be Done to Avoid It?
International Aspects of Wages and Contractor Reporting
What Is Ahead?
  • Merchant Reporting
  • New Tax Laws
Filing and Correcting Returns
— Robert J. Kiggins, Esq.
  • E-Filing and Paper Filing
  • Form 1096
  • Types of Errors
  • Procedures to Correct Errors and Voiding 1099s
  • Procedures to Correct E-Submissions
Form 1099-Rs
— Robert J. Kiggins, Esq.
  • What Is Form 1099-R?
  • How Are Distributions Taxable
  • What Gets Reported and What Is Due Date?
Employee Benefit Issues
— Allan S. Friedland, Esq.
  • ERISA
  • Leased Employees
  • COBRA
Creative Settlements of Employment Lawsuits
— Beverly W. Garofalo, Esq.
Litigating Damages in Employment Cases: Contracts, Discrimination and Retaliation Cases
  • Litigation Issues
  • Settlements: Taxable vs. Nontaxable
  • Payments to Attorneys (Possible Double Form 1099 Reporting)
  • Allocations in Settlement Agreements
Questions and Answers, and Panel Discussion (Form 1099 From the Attorneys Perspective)
— Allan S. Friedland, Esq., Beverly W. Garofalo, Esq. and David R. Golder, Esq.
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Why Lorman?

Over 29 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

Online Manual

No credit available.

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Why Lorman?

Over 29 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

Robert J. Kiggins – Moderator

McCarthy Fingar LLP

Robert J. Kiggins, Esq.

  • Of counsel with McCarthy Fingar L.P. in White Plains, New York
  • Practices in tax, securities and general business law
  • Frequent speaker on tax and securities law topics
  • Writer of New York Metro Hedgefund Law & News blog at http://hedgefundlaw.typepad.com/
  • J.D. degree, Cornell Law School; LL.M. degree in taxation, New York University Law School
  • Can be contacted at 914-385-1024 or rkiggins@mccarthyfingar.com

Allan S. Friedland

Jackson Lewis P.C.

Allan S. Friedland, Esq.

  • Partner with Jackson Lewis LLP
  • More than 25 years of employee benefit and tax experience, both in private practice and with a major insurance company
  • Advises private, public and governmental employers on a wide range of retirement, health and welfare plan tax compliance issues, and related ERISA fiduciary matters
  • Extensive experience with implementation, administration and termination of qualified defined benefit and defined contribution plans, the design and tax aspects of nonqualified plan, and COBRA compliance
  • Provides benefit plan drafting, and governmental agency submission and representation services
  • Member of the Pennsylvania, New Jersey and Connecticut Bar Associations
  • J.D. degree, Widener University School of Law; B.A. degree, University of Pennsylvania
  • Can be contacted at 860-522-0404 or friedlaa@jacksonlewis.com

Beverly Garofalo

Jackson Lewis P.C.

Beverly W. Garofalo, Esq.

  • Managing partner of the Hartford office of Jackson Lewis LLP
  • Represents and advises employers on a wide range of employment issues, including sexual harassment, discrimination, accommodating disabled employees, family and medical leave laws, and wage and hour laws
  • Speaks and writes extensively on current labor and employment law issues
  • Recognized by Chambers USA as a Leading Lawyer for Business in 2011
  • Included in the 2011 edition of Best Lawyers in America and was named a New England Super Lawyer
  • J.D. degree, magna cum laude, University of Connecticut School of Law; B.A. degree, The Colorado College

David R. Golder

Jackson Lewis P.C.

David R. Golder, Esq.

  • Attorney in the Hartford office of Jackson Lewis LLP, representing employers in all aspects of employment litigation
  • Specializes in class and complex litigation, including nationwide, high-stakes wage and hour disputes regarding improper payment of wages, employee misclassification, and meal and rest break policies
  • Co-wrote Labor and Employment Law: Compliance and Litigation, 3rd Edition
  • J.D. degree, University of Pennsylvania Law School; Graduate, Phi Beta Kapa, Emory University
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Over 29 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: 386326
Published 2011
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