Time: March 21, 2018 from 1pm to 2:30pm
Location: 26468 E Walker Dr, Aurora, Colorado 80016-6104
Street: 26468 E Walker Dr, Aurora, Colorado 80016-6104
Website or Map: https://goo.gl/PwugfH
Event Type: online, webinar
Organized By: Training Doyens
Latest Activity: Mar 8
Issuers of 1099 Forms can adopt best practices and procedures that streamline the year end process and provide assurance that 1099s are correct, at least so far as vendor names and TINs are concerned. While certain errors in reporting dollar amounts are considered “inconsequential” under new de minimis error rules, errors in the payee name or TIN are never considered inconsequential and can result in penalties.
WHY SHOULD YOU ATTEND
Year end is a busy time for Accounts Payable. With the acceleration of the due date for certain 1099 Forms and the increased penalties, it is more important than ever to prepare information returns correctly and file them on time. Preparation well in advance of the filing season is critical.
Establishment and implementation of procedures that provide for TIN solicitation, TIN verification, response to IRS notices and backup withholding are keys to efficient processing, avoiding errors or missing information, and establishing reasonable cause for penalty avoidance when errors occur.
This webinar discusses how to establish procedures and best practices, including name/TIN verification, that avoid situations that can lead to penalties or, when such situations occur, establish the reasonable cause defence that allows you to avoid the penalty.
WHO WILL BENEFIT
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