Due Diligence Steps For Form 1099

To avoid IRS penalties for Form 1099 errors, you need to show due diligence: a written plan, trained staff and monitoring to confirm they follow it. Because most 1099 errors the IRS finds start with poor W-9 procedures, the plan begins with getting the W-9 right.

This 60-minute Form 1099 due diligence training covers best-practice steps, the most common mismatch problems, how name and TIN mismatches are identified, and how IRS e-services can prevent them.

You'll also review W-9 solicitation requirements and the form step by step, which payments and companies require a 1099, the contents of a best practices manual, the role of a W-9 expert, the 2016 preparer penalty increases and how to keep records proving due diligence.

• Recognize the most common Form 1099 mistakes
• Develop a written due diligence plan and best practices manual
• Define the duties of your W-9 expert and follow W-9 compliance steps
• Identify which payments and companies require a Form 1099
• Keep records that prove due diligence was exercised

• Due diligence best-practice steps
• Most common mismatch problems
• How name and TIN mismatches are identified
• Using IRS e-services to avoid mismatches
• W-9 solicitation requirements
• Step-by-step review of Form W-9
• The 2016 penalty increases for Form 1099 preparers
• Resources for W-9 and 1099 compliance

IRS penalties cost money and staff time. This session helps you build a plan, train staff and monitor them so you can show the IRS you exercised due diligence.

It suits CPA, attorney and EA firms, accounts payable staff and managers, small business owners, corporate and non-profit controllers and financial managers.

• CPA, Attorney, EA Firms and Staff
• Firm Accounts Payable Management or Staff
• Owners, Shareholders of Small Businesses and Staff
• Corporate Controllers, Accounts Payable, Financial Managers & Staff
• Non-profit Controllers, Accounts Payable, Staff

Margie Faulk is a senior level human resources professional with over 15 years of HR management and compliance experience. A current Compliance Advisor for HR Compliance Solutions, LLC, Margie, has worked as an HR Compliance advisor for major corporations and small businesses in the small, large, private, public and Non-profit sectors.  Margie has provided small to large businesses with risk management strategies that protect companies and reduces potential workplace fines and penalties from violation of employment regulations. Margie is bilingual (Spanish) fluent and Bi-cultural.

Margie’s area of expertise includes Criminal Background Screening Policies and auditing, I-9 document correction and storage compliance, Immigration compliance, employee handbook development, policy development, sexual harassment investigations/certified training, SOX regulations, payroll compliance, compliance consulting, monitoring US-based federal, state and local regulations, employee relations issues, internal investigations, HR management, compliance consulting, internal/external audits, and performance management.
Margie is a speaker and accomplished trainer and has created and presented compliance seminars/webinars for over 16 US and International compliance institutes. Margie has testified as a compliance subject matter expert (SME) for several regulatory agencies and against regulatory agencies, thank goodness not on the same day. Margie offers compliance training to HR professionals, business owners, and leadership to ensure compliance with workplace and regulations. 
Margie’s unique training philosophy includes providing free customized tools for all attendees. These tools are customized and have been proven to be part an effective risk management strategy. Some of the customized tools include the I-9 Self Audit. Correction and Storage program, Ban the Box Decision Matrix Policy that Employers can provide in a dispute for allegations, Family Medical Leave Act (FMLA) Compliance Guide, Drug-Free Workplace Volatile Termination E-Book and other compliance program tools when attendees register and attend Margie’s trainings.
Margie holds professional human resources certification (PHR) from the HR Certification Institution (HRCI) and SHRM-CP certification from the Society for Human Resources Management. Margie is a member of the Society of Corporate Compliance & Ethics (SCCE).