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IRS Form 1099 Corrections: Ensure Accuracy to Avoid Costly Penalties

Summary

Webinar Recording

Recording Price: $199.00

(Includes Proprietary Materials)

Penalties for incorrect Form 1099 reporting errors are on the rise. Mistakes made during your 1099 reporting can cost your company money and waste time for your A/P department. How should you make corrections and changes to your 1099s to avoid problems with the IRS? And what are the best strategies to ensure accuracy before submission and making corrections if there are errors? Join us for this live, 60-minute webinar to hear former IRS manager, Greta Hicks, discusses the latest on Form 1099 filing and how to handle corrections, including:

  • Last chance for latest changes - What you need to know before filing
  • Form 1099 Changes vs. Corrections: What you need to know about each
  • Most common Form 1099 mistakes: How to avoid potential pitfalls
  • Soliciting SSNs & TINs: Latest strategies to remain IRS compliant
  • Compliance checklist: What's required to file for your business
  • Effective 1099 correcting: What to do when your numbers are off

Program Highlights

  • Manage the "Corrected Form 1099" Nightmare: Avoid IRS Penalties & Interest

    • Correcting and changing Form 1099: How to spot and correct errors
    • Last known address: IRS guidelines you must comply with
    • Key issues for backup withholding and Form 1099-MISC
    • Review of specific examples of errors and corrections
  • Avoid the Year-End Panic and Messy Corrections that Mistakes Can Produce

    • Stop compliance mishaps: Verifying TIN, EIN & SSN with IRS e-services
    • How to ensure compliance with the latest IRS & federal regulations
    • Special issues of nonemployee compensation, rents, other income, and more!
    • What to do if a payee refuses or neglects to provide a TIN
  • Essential Keys to Help Your Company Avoid Unwanted IRS Penalties

    • Top strategies for receiving information from vendors on time
    • Best practices for reconciling 1099s with the books and to Form 1069
    • Paper vs Electronic filings: Guidelines for correcting each
    • Latest updates to Form 1099 - Stay compliant in your year-end reporting
  • Question & Answer Session - Have your specific 1099 correction questions answered!

About The Speaker

Greta P. Hicks, CPA and former IRS manager, represents taxpayers before the IRS and provides technical support and research as both a consultant and an advisor to other tax professionals and corporate tax departments. Greta answers the critical questions, "What to do if I'm audited by the IRS" and "What to do if I have an IRS problem?"

  • Greta is founder of Greta P Hicks, CPA and provides both informational and educational materials to tax practitioners. They develop and/or present tax updates and IRS procedure seminars for professional societies, commercial CPE providers, and educational institutions such as Texas A&M Agricultural Extension Service, University of Texas Permian Basin, California CPA Education Foundation, Lorman Education Services, Continuing Professional Education, Inc., Professional Education Seminars, Inc. and many more.

Program Benefits

It's crucial for your organization to do everything it can to avoid IRS penalties that result from filing an incorrect Form 1099. In this jam-packed, 60-minute webinar you'll discover everything you need to know about how to prevent, identify and correct errors, as well as filling error-free 1099s.