IRS Form 1099 Reporting: Compliance Requirements

Knowing when to issue Forms 1099-NEC and 1099-MISC is a core part of IRS Form 1099 reporting. This 60-minute webinar explains who issues 1099s, who receives them and which transactions are reportable.

You'll also learn how Form 1099-K works and why some transactions reported on it mean you don't need to issue a 1099 yourself. The session walks through common business scenarios and how each is reported, plus whether reimbursements paid to contractors belong on a 1099.

Because worker classification is a growing focus of IRS audits, and states are becoming more aggressive too, you'll see how to tell a contractor from an employee and how to use Form W-9 and backup withholding to stay compliant.

• Determine when Forms 1099-NEC and 1099-MISC must be issued and to whom
• Identify reportable transactions in common business scenarios
• Explain when Form 1099-K reporting replaces your own 1099
• Use Form W-9 and apply backup withholding
• Distinguish contractors from employees
• Decide whether contractor reimbursements are reportable

• What a 1099 is and who issues one
• Who receives a 1099
• Which transactions are reportable
• Form 1099-K and how it interacts with Forms 1099-NEC and 1099-MISC
• Form W-9
• Backup withholding
• Employee or contractor: how to tell the difference
• Reimbursements to contractors: reportable or not

IRS enforcement of 1099 reporting is increasing, and penalties apply when you fail to issue a 1099 you should have. This webinar answers common questions about when Forms 1099-NEC and 1099-MISC are required. It also covers how to tell contractors from employees, an area of growing IRS and state scrutiny.

The session suits payroll professionals, office managers, bookkeepers and accountants.

• Payroll Professionals
• Office Managers
• Bookkeepers
• Accountants

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