January 12 and 13, 2021 Event will spotlight ways to address regulatory issues pertaining to IRS forms 1099 and 1042-S, Title 26, CFR 1402 and 1441.
SAN JOSE, CA, USA, December 21, 2020 /EINPresswire.com/ — ComplianceOnline.com is hosting a Seminar entitled ‘Complete 1099, TIN Matching, B-Notice, FATCA and Nonresident Alien 1042-S Compliance Update’ with Miles Hutchinson, CGMA, President of Sales Tax Advisors, Inc. on January 12 and 13, 2021 from 7:00 AM to 1:00 PM PST.
Attendees will learn How to determine whether they can accept a W-9 from someone or if they must request a W-8 instead, what to do if they send 1099 when they should have sent a Form 1042-S and how to deal with an IRS demand for the backup withholding they failed to deduct from a Nonresident Alien’s (NRA’s) payment. The seminar will help organizations to ensure they are in compliance with regulations surrounding data collection, backup withholding, and information reporting.
Participants will learn how to identify independent contractors and non-resident aliens. The course will analyze case studies to:
• Ensure full understanding of the most efficient process
• Effectively communicate with the payee to obtain correct and properly executed Form W-8 or W-9 from the payee
• Determine whether and how much must be subjected to backup withholding
• Confirm whether the name and tax ID of the payee match the IRS databases
• Expedite the handling of B-Notices
• Fight a notice of proposed penalty
Also, attendees will learn the best method to process 1099 and 1042-S reporting to both your payees and the IRS using best practices. Due to the enactment of the Foreign Accounts Tax Compliance Act (FATCA), the course will address issues related to the use of forms W-9 and W-8 to comply with both Chapters 3 and 4 of the internal revenue code. Through case study analysis, the presenter will illustrate best practices to maximize the performance of current system. Additionally, case studies will also explore how management practices can be improved to help ensure complete regulatory compliance.
On completing the course, participants will:
• Be well versed in the information reporting process
• Understand the importance of obtaining forms W-9 or W-8 on all payees
• Be able to reduce the amount of time and resources necessary to handle the company’s information reporting mandate
• Be able to minimize the risk and effort involved in performing backup withholding
• Improve the accuracy of their regulatory reporting process
• Enhance the relationship between the company and clients/vendors, etc.
• Be able to help reduce the company’s potential exposure to penalties for non-compliance with information reporting and withholding regulations
• Have a clear action plan for implementing best practices for compliance
For more information or to register for the seminar, please click here.
Virtual Training Through WebEx
Date: January 12-13, 2021 (7:00 AM to 1:00 PM PST)
Register by phone: Please call our customer service specialists at +1-888-717-2436 or email to firstname.lastname@example.org
This course benefits Regulatory professionals, Information reporting officers, Certified payroll professionals, Compliance professionals, Tax professionals, Finance officers, CFOs, Bank officers, Accounting managers, Accounts payable managers, Document control specialists, Human resources professionals, Record retention specialists, Legal Professionals, IT managers, and Risk managers.
About the Speaker:
Miles Hutchinson is a CGMA and experienced businessman. He has been an auditor with PriceWaterhouseCoopers and the Chief Financial Officer of a $1 billion real estate development company. Miles is a professional speaker and consultant who has presented over 2,000 seminars and training sessions on a myriad of business and financial topics, like financial analysis and modeling, accounting, strategic planning, and compliance with the Sarbanes-Oxley Act. He is recognized as an expert in payroll and sales & use tax as well as financial modeling & analysis, business strategy and communications.
ComplianceOnline is a leading provider of regulatory compliance training programs for companies and professionals in regulated industries. ComplianceOnline has successfully trained over 55,000 professionals from 15,000 companies to comply with the requirements of regulatory agencies. ComplianceOnline is headquartered in Palo Alto, California, and can be reached at http://www.complianceonline.com. ComplianceOnline is a MetricStream portal. MetricStream (www.metricstream.com) is a market leader in Enterprise-wide Governance, Risk, Compliance (GRC), and Quality Management Solutions for global corporations.
For more information on ComplianceOnline or to browse through our trainings, please visit our website.
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