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For many years, the IRS has placed the burden on businesses, non-profits and not-for-profits as well as all levels of government to report information about taxable payments they make to their vendors and customers.
In order to more accurately match our information reporting to taxpayer’s tax returns they have introduced an “e-services” portal to help us ensure the names and tax identification numbers provided to us by our payees match their records. When used properly, this system can reduce the risk of warning letters (CP-2100s/B-Notices) and penalty notices (972-CGs) from the IRS.
WHY SHOULD YOU ATTEND
You can begin to develop a solid plan to move your company toward near absolute regulatory compliance, efficiency improvements, standardized processes, & adequate documentation to ensure your 1099’s contain accurate information that will agree with the IRS’s records. You will all but eliminate your B-Notices from the IRS!
Do you know the answers to these questions?
Learn the best practices for eliminating 1099 error notices from the IRS. Discover the power of the IRS TIN Matching system. Discover the smoothest way to register to use the two step verification process introduced 12/10/17. Learn how to handle the CP-2100 notices from Uncle Sam and avoid the fines & penalties for failure to timely comply with the B-Notice requirements.
Understand the difference between and 1st and 2nd B-Notices and the related differences in required vendor responses. Be sure you institute and stop Backup Withholding when required. You will gain the tools to make you the most effective information return manager your company has ever seen.
WHO WILL BENEFIT