Form 1099 for 2020: Latest Updates
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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 1099s
Speaker and Presenter Information
Speaker: Jason T. Dinesen
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.
Event Type
Webcast
This event has no exhibitor/sponsor opportunities
When
Fri, Nov 20, 2020, 1:00pm - 2:00pm
ET
Cost
| GW - 7899: | |
| GovEvents Member Price: | $125.00 |
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Website
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Organizer
Global Wizdom
