Due Diligence Steps for Form 1099 Compliance

Duration: 90 Minutes
Due Diligence involves a written Plan, training staff, and monitoring staff to determine if they have followed the plan. IRS penalties not only cost money but also take up valuable time which translates to money.
Steps for Form 1099 Compliance
Instructor: Jason Dinesen
Product ID: 504632
Do you want to avoid IRS penalties for mistakes on Form 1099? If the answer is Yes, make sure the staff has exercised due diligence. This course is designed to develop a plan and train and monitor staff to achieve due diligence.

Objectives of the Presentation
  • Learn when a Form 1099-MISC needs issued
  • What is contract labor pay?
  • Learn why it is important to know the difference between a contractor and an employee
  • Learn how to tell the difference between a contractor and an employee
  • Learn what a Form 1099-K is
  • Understand the interaction between Form 1099-K and Form 1099-MISC
Why Should you Attend
This presentation will focus on Form 1099-MISC: when it needs filed, how to file it and common pitfalls, with most of our focus being on box 7 independent contractor pay. We will also cover the difference between employees and independent contractors, how to tell the difference, and why it’s important to know the difference. We will also touch on Form 1099-K and the interaction between Form 1099-K and Form 1099-MISC.

Areas Covered
  • The basics of Form 1099-MISC from a big-picture view
  • What is box 7 contract labor pay?
  • What is the difference between a contractor and an employee, and why does the IRS care?
  • How to tell the difference between a contractor and an employee
  • Rundown of various 1099-MISC scenarios
  • Basic overview of Form 1099-K
  • Interaction between Form 1099-K and Form 1099-MISC
Who will Benefit
The session will be beneficial for-
  • CFOs
  • CPA, Attorney, EA Firms and Staff
  • Firm Accounts Payable Management or Staff
  • Office managers
  • Accountants
  • Bookkeepers
  • Owners, Shareholders of Small Businesses and Staff
  • Corporate Controllers, Accounts Payable, Financial Managers & Staff
  • Non-profit Controllers, Accounts Payable, Staff
$200
Recorded Session for one participant
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  $250.00 Training CD
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How it works
Live Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • The webinar joining link, username and password for joining the webinar will be updated on your OCP Account 24 hours prior to the webinar
  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
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. Dinesen has extensive experience working with a third-party administrator of retirement plans and is a prior presenter of multiple 1099 seminars. Dinesen majored in corporate communications with a minor in management from Simpson College
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