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Regardless of its structure (sole proprietor, corporation, etc.) that makes "reportable transactions" during the year, any business is required to issue a 1099 to the recipient of income and the IRS. Form 1099-MISC compliance is a surprisingly complicated compliance requirement for businesses and accountants. The requirements are always changing, and answers are seldom clear-cut. This course will de-mystify some of the tricky areas relating to Form 1099-MISC, such as when the 1099 should be issued and whether a worker is a contractor or an employee.
This Webinar includes the latest update on Form 1099-NEC which is being Resurrected by the IRS & will be used to report payments made to independent contractors.
There are over 20 types of 1099s; this webinar will focus on the 2 most common types -- Form 1099-NEC and Form 1099-MISC -- while touching on many other types of forms. This webinar will cover a wide range of topics to help you and your clients stay in compliance with 1099 issues.
The 1099 form plays a critical role in tax reporting, compliance, and financial transparency by documenting income earned from sources beyond traditional employment wages and salaries. It is essential for both individuals and businesses to understand their obligations related to the 1099 form and to accurately report all income to the IRS.
To stay compliant, practitioners must know which form to use to report specific transactions when forms must be filed or furnished to recipients to be on time, which information to include, and how to make sure it is accurate.
This Webinar covers the following Key Topics:
Staying informed about Form 1099 updates is essential for individuals and businesses to navigate the complexities of tax reporting, maintain compliance with regulatory requirements, and optimize financial management practices. By understanding the significance of Form 1099 updates, taxpayers can ensure accurate income reporting, mitigate compliance risks, and achieve greater financial transparency and stability.
Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert and a well-known presenter of continuing education courses. Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community.
Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics and much more. He has presented over dozens of webinars on Form 1099 (for 10 years on this subject!); marriage in the tax code; tax updates; the new Form W-4, payroll updates, filing status, tax credit and other issues relating to the modern-day household setting.
He also teaches 2 classes at Simpson College, Individual Income Tax and Business Analytics.
Jason always had a knack for radio shows and has and regularly features as an anchor for Radio Iowa.
Jason was born and raised in Iowa and has a degree in corporate communications from Simpson College in Indianola. He has a big family that includes his wife, two sons, 4 cats and 2 dogs. His other hobbies include being a season ticket holder to University of Iowa football.
