Form 1099 & W-9 Update - Complying with IRS Information Reporting Guidelines

Gina J. Lowdermilk

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$249

Premier price: $224 (save 10%)

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This IRS regulatory compliance training will focus on the rules requiring W-9 documentation and 1099 reporting. Attendees will learn the best practices to ensure compliance with IRS and avoid B-Notices.

Why Should You Attend:

  • What are the rules regarding paying and IRS reporting on independent contractors?
  • How do I avoid the IRS CP-2100 (B-Notices)?
  • What if my vendor claims exemption - must I obtain a W-9 anyway?
  • What are the best practices?
  • How can I minimize risk of improper exemption claims by my vendors?

Get the answers to these and related questions to reduce your risk of huge penalties from the IRS.

This webinar will cover the rules requiring W-9 documentation and 1099 reporting for various types of Forms 1099 including interest, dividends, PATR, real estate transactions, and the famous Form 1099-Misc. Learn how to establish the independent contractor relationship with the right documentation. Understand the rules and keep your company in compliance. Ensure that your records will stand the scrutiny of an IRS 3rd party documentation and reporting audit. Avoid the onerous penalties for noncompliance and build the best defense against the 972-CG Notice of Proposed Penalty Letter.

Areas Covered in the Webinar:

In just two hours you will gain the following insights:

  • How can we best set up an independent contractor or bank customer in our payment system to ensure compliance with the IRS reporting rules?
  • Protocols for setting up new payees and vendors (ICs)
  • When to require a Form W-9 v. Form W-4 v. Forms W-8
  • Review the current Form W-9 (released October 2018, or newer if applicable)
  • How to test the accuracy of the W-9 information with the IRS’s records – for free!
  • Who and what you pay determines whether you must report (1099 reporting)
  • When and how to handle back-up withholding
  • When signatures are required on Form W-9
  • Update on the latest changes to the forms, deadlines and penalties
  • When you must electronically file your information returns
  • How to set up electronic reporting to your payees
  • Form 1099-Misc – detailed guidelines for proper use and classification of diverse payments on this form
  • How Merchant Card reporting on Form 1099-K affects your reporting on credit card payments
  • How FATCA affects information reporting for U.S. persons
  • Best practices for filing 1099s with the IRS – TIP: never file early!
  • The government wants to remove the exemptions – what this means to you

Who Will Benefit:

  • Bank Managers
  • Compliance Officers
  • Information Reporting Officers
  • Tax Managers
  • CFOs
  • Controllers
  • Accounting Managers
  • Auditors
  • IT Managers
  • Compliance Managers
  • Risk Managers
  • All types of entities including For Profit, Not for Profit, Government (Federal and State) – everyone who hires an independent contractor has reporting obligations
  • AICPA, CGMA, IOMA, TAPN
Webinar Events
Live -Coming soon!

Training CD-DVD

Physical CD-DVD of recorded session will be despatched after 72 hrs on completion of payment

Premier price: $ 539 (save 10%)

Recorded video

Recorded video session

Premier price: $ 314 (save 10%)


Speaker: Gina J. Lowdermilk, BSA/Compliance Auditor and Consultant

Dr. Gina J. Lowdermilk,PhD (ABD), CAMS, CRMS is a highly experienced and educated BSA/AML and Financial Regulatory Compliance professional with extensive policy and procedure development and implementation, training, internal audit, monitoring, risk management, and reporting experience. Her emphasis has been working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders. Her 15 years of experience has given her the opportunity to work from small community banks to large, international financial institutions. Her roles not only included BSA/AML and Compliance, but also operations, lending services, business development, marketing, management, department development, and asset quality.

Ms. Lowdermilk has worked with all of the financial regulators and examiners. She possesses advanced Microsoft Excel, PowerPoint, Word, Internet Explorer, Visio, and Access skills. She also has experience with FiServ, BAM, CRA Wiz, TeamMate, COGNOS, and Metavante banking software. She has been responsible for creating both recurring and ad hoc executive management and board presentations. In addition to her above experience, she is also an adjunct instructor for the business and construction management programs at a local college, as well as writes numerous BSA/AML and Compliance articles, training materials, and manuals as requested from numerous clients.