Live Webinar

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

Also available as:

OnDemand Course

Best Practices to Reduce or Eliminate IRS Penalties

November 2

Understand the basic format of how to complete the W-9 form, create an account with the IRS, and submit a TIN match.

All companies that utilize contractors must report payments of more than $600 on Form 1099, NEC, MISC, or many other types of forms and many different types of payments. Sometimes the information gathered at the time of the payment is incorrect or incomplete; this causes an issue with the IRS when trying to report income at the end of the year. By applying sound W-9 solicitation protocols, you can eliminate most of the issues with missing information. Creating a policy with strict adherence will benefit both the company and the contractor so that you can keep everyone out of conflict with the IRS. The IRS has also provided a tool that can be used to help in TIN/Name verification. By verifying the data provided by the contractors using the IRS database, you can catch and eliminate human errors such as transpositions. By the end of this course, you will understand the basic format of completing the W-9 form, creating an account with the IRS, and submitting a TIN match. This course will cover what to do if you receive either a CP2100 form or a 972CG Notice from the IRS.

Learning Objectives

  • You will be able to explain the W-9 process.
  • You will be able to describe the TIN Matching process.
  • You will be able to identify areas within your organization that require changes to establish a case for Reasonable Cause regarding TIN validation protocols.
  • You will be able to discuss W-9 solicitations and how to respond to a CP2100 form or 972CG notices from the IRS.
  • You will be able to recognize the importance of implementing best practices for managing information reporting.

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Why Lorman?

Over 35 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

W-9
  • Name
  • Business Type
  • SSN vs. EIN
TIN Matching
  • IRS E-Services Program
  • How It Works
  • Understanding TIN Matching Results
  • What to Do With the Information Received
W-9 Solicitations
  • Initial
  • 1st Annual
  • 2nd Annual
CP2100 and CP2100A
  • What Is It? (It’s a Gift)
  • How to Respond
  • Incorrect vs. Missing TINs
972CG Notice of Potential Penalty
  • Don’t Be Afraid
  • How to Respond
  • Documentation Is Your Friend
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Why Lorman?

Over 35 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

Live Webinar Registration

  • AIPB 2.0
     
  • This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • 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).
     
  • CAPP/CAPA
     
  • This is an IAPP qualifying continuing education activity.
     
  • 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.nasbaregistry.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.
     

OnDemand Course

This course was last revised on March 15, 2019.

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

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

Who should attend?

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

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Why Lorman?

Over 35 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

Laura Cunningham

Laura Cunningham

1099 Express

  • Operations manager, print & mail & W-9 solicitation manager, penalty abatement specialist at 1099Express.com, Inc.
  • Executive assistant and legal assistant to various organizations
  • Over 20 years of experience in senior management of business operations, specializing in customer service excellence
  • A.S. degree in accounting
  • Can be contacted at [email protected] or 361-884-1500
No photo available

Joni Kessler

1099 Express

  • Human Resources manager and CSR manager at 1099Express.com, Inc. and TIN Matching supervisor and CSR manager at Wagefiling.com
  • 5 years of processing TIN Matching requests and advising clients regarding TIN Matching best practices
  • Over 30 years of senior management in business operations and conflict resolution
  • B.S. degree in business administration, specializing in human resources management
  • Can be contacted at [email protected] or 361-884-1500
Paul Manigrasso, JD, CPA

Paul Manigrasso, JD, CPA

Manigrasso Law Firm, PLLC

Paul L. Manigrasso

  • Owner of Manigrasso Law Firm, PLLC
  • Law practice centered around tax controversy and criminal representation
  • Certified public accountant
  • Over 25 years in accounting positions, culminating in roles as the chief financial officer for several companies
  • Adjunct professor, Texas A&M University School of Law
  • Can be contacted at [email protected] or 469-383-5662
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Why Lorman?

Over 35 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: 409579
Published 2019, 2022
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