Form 1099-MISC and 1099-NEC Compliance Update 2021

Form 1099 reporting has always been tricky, and recent changes have added to the burden. This 60-minute Form 1099-NEC and 1099-MISC compliance webinar starts with the basics: what a 1099 is, who gets one, and when corporations receive 1099s for medical and legal payments.

It then looks at Form 1099-K and how it interacts with contract labor reported on the 1099-NEC. With more contractors taking payment through apps such as Venmo, the session explains how, or whether, those payments are reported.

You'll also cover how to file 1099s, Form W-9, reimbursements to contractors, and the question of who exactly counts as a contractor.

• Explain what a 1099 is and who must receive one
• Decide when corporations receive 1099s for medical and legal payments
• Describe how Form 1099-K interacts with 1099-NEC reporting
• Determine how payments to contractors through apps like Venmo are reported
• File 1099s correctly using Form W-9 information
• Handle contractor reimbursements and identify who is a contractor

• The 1099-NEC and 1099-MISC forms
• What a 1099 is
• Who gets a 1099
• When corporations get 1099s: medical and legal payments
• How to file 1099s
• Form 1099-K and its interaction with the 1099-NEC
• Reporting contractor payments made through apps such as Venmo
• Form W-9 updates and discussion
• Handling reimbursements to contractors
• Who exactly is a contractor

Getting 1099 reporting wrong creates risk for any business that pays contractors, and payment apps have made it harder to know what must be reported. This fast-paced session clears up the rules for the 1099-NEC, 1099-MISC and 1099-K.

It suits accountants, tax preparers, HR professionals and payroll professionals.

• Accountants
• Tax preparers
• Human resources professionals
• Payroll professionals

Jason Dinesen is the President of Dinesen Tax & Accounting, P.C., a public accounting firm in Indianola, Iowa. His practice focuses on accounting and bookkeeping services, tax preparation and business advising to individuals with a business focus ranging from home-based businesses to multistate corporations and not-for-profits. Dinesen has extensive experience working with a third-party administrator of retirement plans and is a prior presenter of multiple 1099 seminars. Dinesen majored in corporate communications with a minor in management from Simpson College