Form 1099-MISC compliance is a surprisingly complicated compliance requirement for businesses and accountants. The requirements are always changing, and answers are seldom clear-cut. This course will de-mystify some of the tricky areas relating to Form 1099-MISC, such as when 1099 should be issued and whether a worker is a contractor or an employee. The main focus of this presentation is on “box 7” (independent contractor pay) but we cover other 1099-MISC topics as well.
Join this session by expert speaker Jason Dinesen, where he will go through the difference between an independent contractor and an employee, and why is it important to classify workers properly?
Session Highlights:
Introduction about 1099s/basic overview
Who files a 1099-MISC
Who receives a 1099-MISC
When do corporations get a1099-MISC
Medical services and Form1099-MISC
Employee vs. Contractor:
Why is this important and how do you tell the difference?
Dealing with reimbursements to contractors
Form W-9 and why it is important, and how it relates to the 1099-MISC
Backup withholding
IRS notices
Due dates, how to file with theIRS, and penalties for late filing
Form 1099-K and its interaction with the 1099-MISC
Rental property and Form1099-MISC
Discussion of whether or not a business can issue a Form 1099-C (cancelation of debt) to clients who fail to pay invoices
Is software as a service (SAAS) a royalty payment (box 2 of Form 1099-MISC) or rent payment (box 1 of Form 1099-MISC)?
Expanded discussions on many topics including the interaction between Form 1099-K and Form 1099-MISC, penalties, and whether or not rental owners need to issue 1099-MISC.
Why You Should Attend:
Will learn what the 1099-MISC is. You will Learn who is required to file and how to file. How to gather information from contractors and Interaction between Form 1099-MISC and Form 1099-K
Who Should Attend:
HR Professionals
Office managers
CFOs and controllers
Tax preparers
Accountants
Accounts payable and accounting managers
Accounts payable processing professionals
Employers and Business owners
Public accountants, CPAs, and Enrolled Agents
Purchasing managers and professionals
Advanced Preparation: None
Program Level: Intermediate
Prerequisites: None
Field of Study: Tax & Accounting
You may ask your Question directly to our expert during the Q&A session.
** You can buy On-Demand and view it as per your convenience.
Jason Dinesen
He 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.
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This webinar has been approved for 1.5 HR (General) re-certification credit hours toward California, GPHR, HRBP, HRMP, PHR, and SPHR recertification through the HR Certification Institute. The use of this seal is not an endorsement by the HR Certification Institute of the quality of the activity. It means that this activity has met the HR Certification Institute’s criteria to be pre-approved for re-certification credit.
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of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.
Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 844- 810-1151. PLEASE NOTE: To receive credit through the NASBA for this program you MUST attend the Live program in its entirety and complete the required progress checks.
Our registration number is 138832.
Number of CPE Credits Awarded for This Course: 1.5 (Taxes - 1.0, Accounting - 0.5)
Delivery Method: Group Internet Based