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TIN Compliance, B Notices and Backup Withholding

Event Details

TIN Compliance, B Notices and Backup Withholding

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
City/Town: Aurora
Website or Map: https://goo.gl/PwugfH
Phone: +1-888-300-8494
Event Type: online, webinar
Organized By: Training Doyens
Latest Activity: Mar 8

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Event Description

OVERVIEW

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.

AREAS COVERED

  • Reminders and what’s new 
  • IRS matching process
  • Penalties 
  • Establishing reasonable cause
  • Solicitations
  • TIN verification 
  • Notices
  • Backup withholding

LEARNING OBJECTIVES

  • Know how to register individuals to use the IRS TIN verification system and set up a company account.
  • Know how to submit names and TINS for verification.
  • Know the steps to properly follow up on a mismatch indicated by the TIN verification system.
  • Understand the importance of TIN solicitation using Form W-9 and follow up solicitations where necessary in establishing due diligence and reasonable cause for purposes of penalty avoidance.
  • Know how and when to issue B-notices to vendors and what to do when the payee responds or fails to respond. 
  • Know what to do when a payee fails to provide a TIN.
  • Understand backup withholding, when to start it, when to stop it, and how to deposit and report it.

WHO WILL BENEFIT

  • CFOs and controllers
  • Accounts payable and accounting managers
  • Accounts payable processing professionals
  • Employers and Business owners
  • Purchasing managers and professionals
  • Public accountants, CPAs and Enrolled Agents

 

For more detail please click on this below link:

http://bit.ly/2FxasMb

 

Email: support@trainingdoyens.com

Toll Free: +1-888-300-8494

Tel: +1-720-996-1616

Fax: +1-888-909-1882

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