1099 Compliance Update
As independent contractors continue to make up an ever-increasing part of the U.S. workforce, staying compliant with Form 1099 requirements is more critical than ever — especially with heightened IRS scrutiny on unreported income. This course will guide you through the complexities of 1099 forms, including identifying qualifying entities, differentiating between various forms, plus effectively handling exceptions and penalties. Featuring live, interactive Q&A, it's perfect for HR professionals, business owners — anyone involved in payroll and employee classification.
Course Outcomes
- Gain a comprehensive understanding of the 1099-MISC and 1099-NEC forms
- Handle a variety of reporting scenarios with confidence
- Apply best practices for compliance and avoid common reporting errors
- Manage and respond to IRS notices to minimize penalties
- Master due diligence and proper documentation to avoid audits
Course Agenda
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1099 Compliance Update
As independent contractors continue to make up an ever-increasing part of the U.S. workforce, staying compliant with Form 1099 requirements is more critical than ever — especially with heightened IRS scrutiny on unreported income. This course will guide you through the complexities of 1099 forms, including identifying qualifying entities, differentiating between various forms, plus effectively handling exceptions and penalties. Featuring live, interactive Q&A, it's perfect for HR professionals, business owners — anyone involved in payroll and employee classification.
Key topics covered:
- Form 1099 fundamentals: Role and purpose of 1099 forms in reporting non-employment income
- Reporting thresholds and best practices: Cut-off amounts for reporting and accuracy best practices
- Types of 1099 forms: Common 1099 forms and their appropriate usage
- Identifying independent contractor status: Correct classification and verification for 1099 reporting
- Exceptions and compliance: Filing exceptions, backup withholding and managing proposed penalties