WHY SHOULD YOU ATTEND?
How do you know your vendor’s W-9’s are correct? What are the consequences of filing incorrect name and ID numbers on their 1099’s? In just 90/120 minutes, you can begin to develop a solid plan to move your company toward near absolute regulatory compliance, efficiency improvements, standardized processes, & adequate documentation to ensure your 1099’s contain accurate information that will agree with the IRS’s records. You will all but eliminate your B-Notices from the IRS!AREA COVERED
Do you know the answers to these questions?- Starter Question: What is TIN Matching?
- What are the benefits of the TIN Matching System?
- Who must request access to the TIN Match system?
- How do we register to use the system, including the 2-step verification system introduced 12/10/17?
- How does the TIN Match system work?
- What are the best practices for managing 1099 reporting requirements?
- How do I deal with vendors who report incorrect information on their W-4s?
- B-Notices: when I receive a letter from the IRS stating I have incorrect names/TINS on my 1099s, what must I do and what about the deadlines?
- What if I receive a Notice of Proposed Penalty?
- How do we negotiate a reduction or eliminate the penalty?
- How do we leverage the Reasonable Cause Regulations?
- How does TIN Matching impact the fight to reduce proposed penalties?
LEARNING OBJECTIVES
For many years, the IRS has placed the burden on businesses, non-profits and not-for-profits as well as all levels of government to report information about taxable payments they make to their vendors and customers. In order to more accurately match our information reporting to taxpayer’s tax returns they have introduced an “e-services” portal to help us ensure the names and tax identification numbers provided to us by our payees match their records. When used properly, this system can reduce the risk of warning letters (CP-2100s/B-Notices) and penalty notices (972-CGs) from the IRS.WHO WILL BENEFIT?
CFOs, Controllers, Compliance Managers, Accounting Managers, Accounts Payable ManagersAny institution that makes reports on forms 1099-INT, 1099-B, 199-DIV, 1099-PATR, & 1099-MISC
- Starter Question: What is TIN Matching?
- What are the benefits of the TIN Matching System?
- Who must request access to the TIN Match system?
- How do we register to use the system, including the 2-step verification system introduced 12/10/17?
- How does the TIN Match system work?
- What are the best practices for managing 1099 reporting requirements?
- How do I deal with vendors who report incorrect information on their W-4s?
- B-Notices: when I receive a letter from the IRS stating I have incorrect names/TINS on my 1099s, what must I do and what about the deadlines?
- What if I receive a Notice of Proposed Penalty?
- How do we negotiate a reduction or eliminate the penalty?
- How do we leverage the Reasonable Cause Regulations?
- How does TIN Matching impact the fight to reduce proposed penalties?
Any institution that makes reports on forms 1099-INT, 1099-B, 199-DIV, 1099-PATR, & 1099-MISC