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Filling Out Form 1099 Fundamentals

Learn how to properly file Form 1099 and what items you will need to file it.

Many businesses use the services of independent contractors and similar services in the day-to-day operation of their business. While convenient, the use of these services may place an additional tax filing burden on the business owner. This topic will help the individual responsible for tax reporting to understand their obligations and then explain the process for fulfilling this obligation. The material also includes information on setting up systems to assist in gathering the necessary information. Failure to properly complete and file these forms can lead to the assessment of costly penalties. This information is critical for business owners so that they can ensure their compliance with IRS requirements.

Runtime: 102 minutes
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Why Lorman?

Over 33 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

Brief Overview of Form 1099 Filing

  • Why Are They Filed and Who Must File
  • Types of Forms 1099 and When Each Is Appropriate
  • Applicable Penalties for Failure to Properly File Forms 1099

Practical Tips for Form 1099 Preparation

  • Information Gathering and Bookkeeping
  • Who Should Receive Form 1099
  • Completing Form 1099 (With Examples)

1099 Tips and Tricks

  • Due Dates and Timely Filing
  • What About Missing Information
  • Online vs. Paper Filing
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More Program Information

Why Lorman?

Over 33 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 Course

This course was last revised on April 24, 2020.

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

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.

Purchase Options

More Program Information

Why Lorman?

Over 33 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

Brian T. Lovett, CPA, CGMA, J.D.

Brian T. Lovett, CPA, CGMA, J.D.

WithumSmith+Brown, PC

  • Partner in the East Brunswick, NJ office of WithumSmith+Brown, PC
  • Practice emphasizes all aspects of real estate
  • Conducts regular seminars and workshops on numerous tax issues impacting the real estate industry
  • Author of several publications related to various real estate matters
  • J.D. degree, Rutgers Law School- Camden; B.S. degree in accountancy, The College of New Jersey
  • Can be contacted at 732-964-9343, [email protected] or on Twitter® @briantlovett
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Over 33 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: 407278
Published 2020
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