Key Take-Away:
The IRS has changed the way contract labor is reported. It will no longer go on a 1099-MISC but instead on the new 1099-NEC.
Overview:
The IRS has changed the way contract labor is reported. Starting with
2020, you will report contract labor on a Form 1099-NEC instead of Form
1099-MISC. This webinar will cover that change, along with other 1099
topics such as how to file, when to file, how to fix errors, and how to
tell the difference between a contractor versus an employee. This
webinar will help you stay in compliance and avoid penalties.Areas Covered in the Session:
• New Form 1099-NEC
• Who must file 1099s (of any type)
• What transactions are reportable
• Who receives 1099s
• Deeper discussion of medical payments, and legal payments
• Filing issues: how to file, when to file, penalties for late filing
• Contractor vs. employee: how to tell the difference and why it’s important
• Reimbursements to contractors
• Form 1099-K and its interaction with other types of 1099sSpeaker:
Jason Dinesen is the President of Dinesen Tax & Accounting, P.C., a
public accounting firm in Indianola, Iowa. His practice focuses on tax
and accounting services for small businesses and individuals. 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. He started his practice in 2009.Tags: Deadlines for filing Form 1099, Difference between a Contractor versus An employee, Form 1099, Form 1099 - Latest Updates, Form 1099 for 2020, Form 1099-K, Form 1099-MISC, Form 1099-NEC, Form 1099-NEC - Latest Updates, Form W-9, How to avoid penalties, How to file Form 1099, How to fix Form 1099 errors, Internal Revenue Service, IRS, Issues relating to contractors, Jason T. Dinesen, Latest Form 1099 Updates, Legal payments, Medical payments, New Form 1099-NEC, Reimbursements to contractors, SHRM, The New Form 1099, Way contract labor is reported, What types of payments are reportable on either type of 1099, When to file Form 1099, Who must file 1099s
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Presented By
1:00pm to 2:00pm
Doors open at 12:45pm
General Admission: $159.00
Live -Webinar<br> Kellogg Center 26 West Dry Creek Circle, Suite 600<br> Littleton, 80120
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