Description:

1099s report payments made to non-employee service providers, as well as payments to suppliers and other entities you do business with. Think of your own organization:

Can you name all the types of service providers you use?

Do you know which payments are reportable on 1099s, and the minimum amounts you must pay before they are reportable?

There is a new 1099-K threshold for tax year 2023 that was slated for 2022. The IRS delayed implementation due to the uproar. The 1099-K will now require third party payment processors like Venmo, PayPal, Google-Pay and Apple-Pay to report all payments over $600 made to you and me. This is down from the previous threshold of $20,000. Needless to say, this new check and balance will require most individual taxpayers, and any companies who use these services, to monitor all payments from all sources, and make sure that they are reported.

Note that these payments were always reportable as taxable income. The difference is the IRS will know exactly who paid you and how much. They are now reporting same as the W2, 1099-NEC and other 1099s. Attend this live webinar to find out exactly what this means for your business.

Session Highlights:

There are 16 different types of 1099s the IRS requires you to report certain payments on. Do you know when to use them, and what payments go where on each form? Do you know what kinds of workers can be considered independent contractors? If you mistakenly classify employees as I/Cs, and the mistakes are caught in an audit, the back tax liability can be devastating. You cannot afford to only grasp the basics.

Learn the ins and outs of 1099 filing requirements in this must-attend session. In this webinar we discuss:

• An overview of new 1099 Forms
• 2025 updates on the 1099k
• Latest Form 1099-NEC, 1099-MISC, 1099k, and any changes to other 1099 form reporting requirements with specifics .
• How to know when and what to report
• Step-by-step review of Form 1099 reporting mechanics
• Online reporting trends, and how to report online
• An overview of all 22 1099 forms

Learning Objectives

• How to develop an efficient Form 1099 reporting process
• Best practice to minimize penalties using proper policies and procedures that work under new rules
• How to determine if a worker is an independent contractor or an employee
• Form 1099 relationship to B-Notices (CP2100) and TIN Penalty Assessments (972) and much more…

Who Should Attend

• HR Managers
• Payroll Managers
• A/P Managers
• A/P staff
• Finance Executives
• Tax Professionals
• Accounts Payable and Finance Department Staff
• Third party payment settlement and processing agencies

Speaker Profile

Mark Schwartz has over 15 years experience in state and federal payroll tax audits, collections, and payroll consulting.

A former payroll auditor, Mark prided himself on his ability to educate employers on state and federal payroll tax requirements. Whatever issues he found in audits, he ensured the auditee knew how to comply in the future. He worked to minimize company disruptions in the audit process.

In addition to his real-life experiences, Mark has a Masters in Business Administration, and currently uses his entertaining and helpful personality to help organizations prepare for payroll tax audits – whether they’ve already got the notice or are still hoping they don’t!