Training on TIN Matching, B Notices and Backup Withholding: Best Practices for Form 1099 Compliance

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. Our upcoming webinar discusses techniques for avoiding penalties and how to establish the reasonable cause defense that allows you to avoid the penalty when such situations occur.

The webinar covers the following key areas:

• Understand the importance of TIN solicitation
• Know how and when to issue B-notices to vendors and what to do when the payee responds or fails to respond
• Understand backup withholding, when to start it, when to stop it, and how to deposit and report it

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

Speaker Profile: Patrick A. Haggerty is a tax practitioner, author, and educator. His 21+ years of work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice.