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IRS Form 1099 Reporting: What You Need to Know

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. Attend this informative seminar 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 - Walk through the 1099 series of forms with ease - know which form you need to use - Pinpoint when to issue a W-2 or 1099 form - Increase your filing savvy and avoid late filing and failure to file penalties - Survive 1099 reporting in lawsuits and settlements - learn what's taxable and what's not
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Why Lorman?

Over 31 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

Reporting Legal Settlements
— Deirdre Kamber Todd, Esq.
  • Not All Damages Are Created Equally
  • Different Kinds of Damages; Different Taxable Impact
  • Employee vs. Independent Contractor
  • Waivers, Indemnity and Reporting to Diminish Exposure
Independent Contractor Issues
— Deirdre Kamber Todd, Esq.
  • The Difference Between an Independent Contractor and Employee
  • The Tests That Define
  • The Benefits and Drawbacks, in the Nutshell
  • Best Practices
Overview of Common Types of 1099s
— Michael J. Davis, CPA
  • Form 1099-A, 1099-B, 1099-C, 1099-CAP, 1099-DIV, 1099-G, 1099-H, 1099-INT, 1099-K, 1099-LTC, 1099-OID, 1099-PATR, 1099-Q, 1099-R and 1099-S
CPA Perspective Independent Contractor or Employee
  • Revenue Ruling 87- 41
  • 20 Used by IRS
Statutory Employees
  • Who Are Included
Section 530 of the 1978 Revenue Act (as Amended)
  • Overrides Common Law and Statutory Employee Rules
  • When Rules Apply
Form 1099-MISC
— John Georgiou, S.E.A.
  • IRS Information Reporting
  • Purpose of Form 1099 Reporting
  • Deadlines for Providing and Filing Form 1099
  • Who Must File
  • Reporting Income From Form 1099-MISC
  • Boxes 3 and 7 – When to Use
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Why Lorman?

Over 31 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

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Online Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 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

Michael J. Davis, CPA

Michael J. Davis, CPA – Moderator

Michael J. Davis, P.C.

  • Owner of Michael J. Davis, P.C.
  • Public accounting for 39 years and is a Certified QuickBooks® ProAdvisor
  • Board member of several nonprofit organizations
  • Member of AICPA, PICPA and PSPA
  • Voted Best Accountant/CPA in Bucks County by the readers of the Intelligencer for 2003, 2004, 2005, 2008, 2009, 2010, 2011 and 2012
  • Speaker at Central Bucks Chamber and IQnection Nonprofit Summit; Bucks Mont Speakers Bureau
  • Bachelor’s degree in business administration, Temple University
  • Can be contacted at [email protected]
John Georgiou, S.E.A.

John Georgiou, S.E.A.

AAA Income Tax Service

Dr. John Georgiou, S.E.A.

  • Radio host of the “Dr. John Georgiou Income Tax Show” since 1989
  • Senior enrolled agent at AAA Income Tax Service in Northeast Pennsylvania
  • Serving the public as a tax adviser for 27 years
  • Enrolled agent licensed by the IRS to practice taxation and taxpayer representation in all federal jurisdictions
  • Speaker and panelist at the semi-annual Meet the Media National Publicity Summit in New York City every year
  • Frequent guest as the tax expert on Sirius XM Radio
  • Business Advisory Council’s Businessman of the Year
  • Recipient of the Congressional Medal of Distinction for meritorious achievement in federal taxation
  • Can be contacted at 570-476-6878 or [email protected]
No photo available

Deirdre Kamber Todd, Esq.

The Kamber Law Group, P.C.

  • Partner, The Kamber Law Group, P.C.
  • Focuses on employment law, contracts, social media law, medical information privacy, wage payment, antidiscrimination laws, restrictive covenants and unemployment compensation
  • President, Society for Human Resource Management (SHRM) Lehigh Valley Chapter; board member, Lehigh Valley Chamber of Commerce (Public Policy and LGBT Committees); electee, Women in the Profession, Pennsylvania Bar Association; and member of MENSA
  • Named one of the Lehigh Valley’s Twenty under Forty, by the Eastern Pennsylvania Business Journal
  • J.D. degree, Hofstra University School of Law; master’s degree in international studies, University of Limerick; B.A. degree, Brandeis University; certificate, HIPAA professional
  • Can be contacted at 484-224-3059 or [email protected]
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Why Lorman?

Over 31 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: 393395
Published 2011, 2014
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