This IRS regulatory compliance training will explain the TIN matching system best practices to eliminate form 1099 reporting errors. It will also provide you the tools to effectively handle B- Notices in order to avoid fines and penalties.
Why Should You Attend:
How do you know your vendor’s W-9’s are correct? What are the consequences of filing incorrect name and ID numbers on their 1099’s?
In just 90 minutes, 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!
- Learn the best practices for eliminating 1099 error notices from the IRS.
- Discover the power of the 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-Notice and the related differences in required vendor responses.
Be sure you institute and stop Backup Withholding when required. Join us for a content-rich 90 minutes and you will gain the tools to make you the most effective information return manager your company has ever seen.
Areas Covered in the Webinar:
- Starter Question: What is TIN Matching?
- What are the benefits of the TIN Matching System?
- Who must request access to the TIN Match system?
- How do we register to use the system, including the 2-step verification system introduced 12/10/17?
- How does the TIN Match system work?
- What are the best practices for managing 1099 reporting requirements?
- How do I deal with vendors who report incorrect information on their W-4’s?
- B-Notices: when I receive a letter from the IRS stating I have incorrect names/TINS on my 1099’s, what must I do and what about the deadlines?
- What if I receive a Notice of Proposed Penalty?
- How do we negotiate a reduction or eliminate the penalty?
- How do we leverage the Reasonable Cause Regulations?
- How does TIN Matching impact the fight to reduce proposed penalties?
- Attend this webinar and you will learn the answers to all of these questions!
Recently Asked Questions:
- What is the best way to ensure our W-9 records are correct?
- Is it legal to withhold payment for failure to provide a W-9?
- What if we back-up withhold, and the payee submits their W-9 and requests a refund of the withheld tax?
- What if we didn’t know about the CP-2100 and it was lost for weeks in someone’s in-box?
- Where can we get more information about the Reasonable Cause penalty defense letter?
Who Will Benefit:
- Compliance Managers
- Accounting Managers
- Accounts Payable Managers
- Any institution that makes reports on forms 1099-INT, 1099-B, 199-DIV, 1099-PATR, & 1099-MISC