Date/Time
Date(s) - 01/28/2021
1:00 pm - 2:00 pm
Location
United States
Categories
This webinar will cover changes in the 1099 world for 2021. For the first time in many years, significant changes are coming to the Form 1099-MISC, in particular with how contract labor pay is reported. Businesses will no longer use the 1099-MISC to report contract labor pay, but will instead use Form 1099-NEC, a form last seen in 1982 that is being brought back into use by the IRS. This webinar will cover the scenarios where a 1099-MISC or 1099-NEC needs issued, and the scenarios where reporting is not required. We will also cover the Form 1099-K and how it interacts with the 1099-MISC and 1099-NEC. The electronic filing mandate is changing as well and is dropping, so more businesses will fall under the e-file mandate. Penalties will apply for not complying. We will cover the e-filing mandate, other penalty situations, and how to potentially get out of penalties.
- Changes for 2021
- The new Form 1099-NEC
- What will the new 1099-MISC look like
- What situations need reported, and on which form
- E-filing mandate is dropping
- Due dates and IRS penalties
- How to get out of penalties
- Fixing errors
- IRS letters and how to respond
- Independent contractor or employee? Why is it important and how do you tell the difference
- Paying reimbursements to contractors
- Form 1099-K and its interaction with the 1099-MISC and 1099-NEC
Form 1099-MISC is changing in 2021, and a new form is being introduced. Be prepared for new compliance obligations by taking this webinar. Starting in 2021, contract labor will no longer be reported on a 1099-MISC but instead will be reported on a Form 1099-NEC. Learn about those changes and how to stay compliant by taking this webinar. We will also cover the scenarios where a 1099-MISC or 1099-NEC needs issued … and when one does NOT need issued.
- HR Professionals
- Office managers
- CFOs and controllers
- Tax preparers
- Accountants
- Accounts payable and accounting managers
- Accounts payable processing professionals
- Employers and Business owners
- Public accountants, CPAs and Enrolled Agents
- Purchasing managers and professionals
Jason Dinesen is the President of Dinesen Tax & Accounting, P.C., a public accounting firm in Indianola, Iowa. His practice focuses on accounting and bookkeeping services, tax preparation and business advising to individuals with a business focus ranging from home-based businesses to multistate corporations and not-for-profits.
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