IRS Form 1099-MISC and 1099-NEC Compliance Updates 2023
Date : July 14, 2023, Duration : 90 Minutes
Speaker : Jason T. Dinesen
Description:
This webinar will cover the latest updates businesses need to be aware of with the 1099-NEC and 1099-MISC. This includes changes in the American Rescue Plan relating to Form 1099-K, which in turn affects the 1099-NEC and 1099-MISC. We will also cover topics such as: how (or if) you report payments made to contractors through Venmo. We also cover the basics, in the beginning, such as what is 1099, who gets 1099, what are “medical payments” and what are “legal payments”?
Session Highlights:
- A look at the 2023 versions of the 1099-NEC and 1099-MISC
- What is 1099?
- Who gets the 1099?
- When do corporations get 1099s? A review of medical payments and legal payments
- How to file 1099s
- Form 1099-K: updates and interactions with the 1099-NEC
- Form W-9 updates and discussion
- Dealing with reimbursements to contractors
- Who exactly is a contractor?
Learning Objectives:
Form 1099 reporting has always been tricky, and changes in 2022 and 2023 continue to increase the reporting burden. Tucked away in the American Rescue Plan was a change to reporting on a form called a 1099-K, which has an interaction with contract labor reported on the 1099-NEC. More and more contractors are taking payment via apps such as Venmo – how are those payments reported? Or are they reported at all? These are among the things you’ll learn in this fast-paced webinar.
Who Should Attend:
- CPA’s & EA’s
- Human Resources professionals
- CFO & Controllers
- Payroll Professionals
- Accountants
- Compliance Professionals
- Bookkeepers
- Dealing with reimbursements to contractors
- Tax Professionals
- Auditors
- Office Managers
- Business Owners
- Managers & Supervisors
- Benefits Managers
- Finance Professionals
Speaker
Jason T. Dinesen
Jason Dinesen (EA, LPA) is a tax nerd,entrepreneur, tax expert and a well-known presenter of continuing education courses. Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community. Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics and much more. He has presented over dozens of webinars on Form 1099 (for 10 years on this subject!); marriage in the tax code; tax updates; the new Form W-4, payroll updates, filing status, tax credit and other issues relating to the modern-day household setting.
He also teaches 2 classes at Simpson College, Individual Income Tax and Business Analytics. Jason always had a knack for radio shows and has and regularly features as an anchor for Radio Iowa.
Jason was born and raised in Iowa and has a degree in corporate communications from Simpson College in Indianola. He has a big family that includes his wife, two sons, 4 cats and 2 dogs. His other hobbies include being a season ticket holder to University of Iowa football.
