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IRS Form 1099 Reporting: What You Need to Know in Rhode Island

Confidently walk through the 1099 reporting requirements and responsibilities. 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 •Navigate payments to non-U.S. individuals with confidence •Confidently correct errors - subdue even the toughest filing mistakes •Perfect your backup withholding rules know-how Learning Objectives •You will be able to explain information returns. •You will be able to discuss incorrect usage of forms 1099. •You will be able to describe how to file and correct returns. •You will be able to review the Form 1099-MISC.
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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

General Overview of Information Returns
— Daniel C. Waugh, Esq.
  • Filing Your Own Forms W-9
  • Who Is Required to File Information Returns on Form 1099?
  • How Can a Successor Take Responsibility for Filing Form 1099?
  • Information Required on All Forms 1099
  • Telephone Numbers
Seasons of the Year
— Daniel C. Waugh, Esq.
  • Year Round
    • Establishing Recordkeeping System
    • Requesting Forms W-9
    • Implementing Backup Withholding
  • November-December
    • Preparing for Filing
    • Seeking IRS Approval to File
  • January
    • Transmitting Statements to Recipients
  • Mid-Winter
    • Filing With Internal Revenue Service
Incorrect Usage of Forms 1099
— Inez M. Mello, M.B.A.
  • Employee Auto Allowances
  • Casual Labor
  • Domestic Employees
  • Bonuses
Filing and Correcting Returns
— Inez M. Mello, M.B.A.
  • Electronic Filing and Paper Filing
  • Form 1096
  • Types of Errors
Form 1099-MISC
— Inez M. Mello, M.B.A.
  • Who Must File?
  • Income Categorization
  • Preparing the 1099-MISC
  • Reporting Income From 1099-MISC
  • When to Use Boxes 3 and 7
Special Recipients
— Daniel C. Waugh, Esq.
  • Recipients Exempt From Backup Withholding
  • Foreign Recipients
  • Bankrupt Recipients
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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

Online Manual

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

Inez M. Mello, M.B.A.

Inez M. Mello, M.B.A.

Stowe & Degon LLC

  • Director, state and local taxes for Stowe & Degon LLC
  • Areas of expertise include all facets of multi-state and local tax planning and compliance
  • Bryant University’s Graduate Multi-State Tax Professor and received the 2016 Graduate School of Business Award for outstanding MST faculty
  • More than 35 years of experience in state and local taxes
  • Chair of the MA Society of CPA’s State Tax Committee
  • Served on CCH’s National State Tax Advisory Board
  • Selected as the winner of the 2007 Rhode Island Women in Business Champion of the Year Award by the U.S. Small Business Administration
  • M.B.A. degree in taxation, B.S. degree in accounting, Bryant University
  • Can be contacted at 401-529-2273 or [email protected]
No photo available

Daniel C. Waugh, Esq.

Moses Afonso Ryan Ltd.

  • Principal in the law firm of Moses Afonso Ryan Ltd.
  • Provides planning and dispute resolution services relating to taxes, including sales, use, business corporation, franchise and property taxes, as well as federal income and excise taxes
  • Counsels businesses on compliance with federal and state tax laws
  • Former president of the Rhode Island Employee Benefits Council
  • J.D. degree, University of Virginia School of Law; A.B. degree, Harvard College
  • Can be contacted at 401-453-3600 or at [email protected]
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Product ID: 392012
Published 2013
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