Why does the Form 1099 give even the most experienced finance pros a headache? Simple – filing 1099s can be complicated and even one small mistake can be costly.
Not to mention the IRS is constantly changing its regulatory direction, and creating uncertainty about what actually needs to be done to comply. Unfortunately, that lack of clarity hasn't slowed down IRS enforcement.
How can you keep up and minimize errors, avoid penalties and ensure compliance?
- How to determine who and what is "1099-able"
- Find and fix errors before you cut a check or file a return
- What to document? Ensure your records are up-to-snuff
- "I got a B-Notice": Guidelines for what you must do now
- Cut time off of year-end with everyday best practices
- Backup withholding: When and how you must do it
- The most common 1099 errors — and how to avoid them
- 2-step process to get accurate and timely TINs
- P-card payments: Handling these common and tricky transactions
- Non-US vendors: How 1099s apply to different payees
- 5 key federal tax deadlines you'll need to meet
- Keys to protect yourself from excess IRS penalties
- 1099s relatives: Related forms you may also have to file
- The most common transactions you don't have to report
- Complicated form 1099 questions answered
- 15 areas that trip up even the most seasoned payroll professionals – and how to avoid them
- State and federal compliance: What you need to know
- How to navigate conflicting laws and minimize mistakes
- Combat compliance issues: Keys to proper and timely processing
- Defining disposable income: 7 deductions you can't subtract
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