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TIN Matching to Reduce Your B-Notices and Eliminate Proposed Penalties

Gain the tools to make you the most effective information return manager your company has ever seen.

For many years, the IRS has placed the burden on businesses, nonprofits and not-for-profits as well as all levels of government to report information about taxable payments they make to their vendors and customers. In order to more accurately match our information reporting to taxpayer's tax returns they have introduced an e-services portal to help us ensure the names and tax identification numbers provided to us by our payees match their records. When used properly, this system can reduce the risk of warning letters (CP-2100s/B-Notices) and penalty notices (972-CGs) from the IRS. Learn the best practices for eliminating 1099 error notices from the IRS. Discover the power of the TIN Matching system and the smoothest way to register to use the two step verification process introduced 12/10/17. Learn how to handle the CP-2100 notices from Uncle Sam and avoid the fines and penalties for failure to timely comply with the B-Notice requirements. Understand the difference between and 1st and 2nd B-Notice and the related differences in required vendor responses. Be sure you institute and stop backup withholding when required.

Runtime: 89 minutes
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Why Lorman?

Over 32 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

What Is TIN Matching

Benefits of the TIN Matching System

Who Must Request Access to the TIN Match System

How Do We Register to Use the System

  • 2-Step Verification System Introduced 12/10/17

How Does the TIN Match System Work

What Are the Best Practices for Managing 1099 Reporting Requirements

How Do I Deal With Vendors Who Report Incorrect Information on Their W-4's

B-Notices

  • When I Receive a Letter From the IRS Stating I Have Incorrect Names/TINs on My 1099's
  • What Must I Do and What About the Deadlines

What If I Receive a Notice of Proposed Penalty

How Do We Negotiate a Reduction or Eliminate the Penalty

How Do We Leverage the Reasonable Cause Regulations

How Does TIN Matching Impact the Fight to Reduce Proposed Penalties

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Why Lorman?

Over 32 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 March 15, 2019.

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

  • Enrolled Agents 1.0
     
  • This program qualifies for 1.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     

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

Audio & Reference Manual

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

MP3 Download

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

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Why Lorman?

Over 32 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

Miles Hutchinson, CPA, CGMA

American Management Association

  • President of Sales Tax Advisors, Inc., a research, consulting, training and advisory firm specializing in multi-state sales and use tax compliance and Learn Continuously, LLC, a public training firm providing continuing business education
  • Certified public accountant for over 30 years amassing a multi-disciplined approach to business leadership, advice and consultancy
  • Designed and delivered over 2,500 business application and professional training sessions
  • Designed, developed, implemented and monitored complete business systems documentation for a national real estate development and management company
  • accomplished businessman, business adviser and public speaker specializing in finance, accounting and taxation for the nonfinancial executive and the accountant alike
  • Author and Publisher: POLYPROC: Accounting Policies and Procedures Software to comply with Sarbanes-Oxley using the COSO and COBiT frameworks
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Why Lorman?

Over 32 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: 405571
Published 2019
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