new-irs-forms-update-2020-w-4-1099-w-9-w-2-i-9

New IRS Forms Update 2020 (W-4, 1099, W-9, W-2 & I-9)

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On Demand | Combo Offers

  • 420 minutes
  • 0 Day Left
     Jul 01, 2020 - Jul 31, 2020
  •   08:00 AM - 03:00 PM ET
    05:00 AM - 12:00 PM PT

Learn the latest updates on Form W-4 (major change planned for 2019), Form 1099, Form W-9, Form W-2 wage and Form I-9 withholding reporting. This webinar bundle will prepare your staff for this filing year, improve your employee reporting set-up and maintenance practices, and reduce your risk of complaints from the IRS.

IRS Releases New Form W-4 for 2020

Join this session by expert speaker Dayna Reum, where she will review the IRS specific laws around the processing of the Form W-4 and how they should be handled will be discussed. Dayna will explain how to handle a tax protestor and what should be the proper process for an invalid W-4?

Session Highlights:

  • W-4 Requirements

  • Electronic W-4’s

  • Completing the Form W-4 Invalid Form W-4

  • Exempt W-4 ProcessingW-4P & W-4S Forms

  • Other W-4 guidance

  • Lock in letters

  • Substitute W-4 Non-Resident Alien W-4 Processing 2020 IRS Draft Review

  • What the 2020 draft form tells us about payroll taxation in 2020

  • Understanding the proper way to process a federal W-4

  • Understanding the requirements around Form W-4 and how an employer can be at risk

  • IRS Form W-4 change requirements and how it affects you as an employer

  • Employer notification requirements and important deadlines for both Form W-4


IRS Form 1099 Reporting 2020: Compliance Requirements

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-MISCEmployee 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 the IRS, 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.


IRS Form W-2 and W-4 Update 2020 and Best Practices

Join us for a quick study of the new rules by expert speaker Miles Hutchinson, where he will review the current Form W-2 and updated W-4 related issues to prepare you for a smooth reporting season.

Session Highlights:

  • Review legal and regulatory changes for the reporting year

  • Summary of the impacts of the Tax Credits and Jobs Act

  • Benefits/credits about to expire

  • Retirement funding – new thresholds

  • Updated forms, including the new 2020 form W-4 (no longer based on the exemption allowances)

  • Reporting the cost of employer-sponsored health coverage – which employers are affected, when employers must begin reporting, what to report, valuation methods, etc.

  • How to handle expense reimbursements made to employees - reportable/taxable?

  • How to efficiently execute an electronic W-4 program

  • Verifying employee social security numbers online

  • Electronic filing with the SSA using Business Services Online (BSO) – the requirements and benefits

  • Where to turn when you want to transmit employee copies of W-2’s electronically

  • What your company can do to minimize resource consumption when complying with this regulatory reporting requirement

  • What if we make a mistake?  Corrections and penalties


The 1099 & W-9 Update – Complying with IRS Information Reporting

Join us for a quick study of the new rules by expert speaker Miles Hutchinson, where he will establish the independent contractor relationship with the right documentation and help you to understand the rules and keep your company in compliance.

Session Highlights:

  • Avoid the IRS CP-2100 (B-Notices)

  • Explain what to do if your vendor/payee claims an exemption

  • Apply best practices for handling your information reporting obligations

  • Minimize the risk of improper exemption claims by your payees and vendors

  • Establish an independent contractor in your vendor payment system to ensure compliance with the IRS reporting rules

  • Identify protocols for setting up new payees and vendors

  • Recognize when to require a Form W-9 v. Form W-4 v. Form W-8Test the accuracy of the W-9 information with the IRS’s records

  • List what factors determine whether you must report

  • Manage back-up withholding

  • Recognize when signatures are required on Form W-9Identify the latest changes to the forms, deadlines, and penalties

  • Describe when you must electronically file your information returns

  • Set up electronic reporting to your payees

  • Classify diverse payments on Form 1099Recognize how Merchant Card reporting on Form 1099-K affects your reporting on credit card payments

  • Explain how FATCA affects information reporting for U.S. taxpayers

  • Identify best practices for filing 1099s with the IRS

  • Describe what happens when the government wants to remove the exemptions


Form I-9 Updates 2019 - How to Prevent Costly Mistakes

In this webinar expert speaker, Matthew W. Burr will discuss common mistakes and how to correct and review the area’s find important with I-9’s and how to prevent future issues.

Session Highlights:

  • Legal Information

  • Importance of Mistake Proof Forms

  • Retention Process

  • Proactive Audits

  • Common Mistakes

  • Correcting Mistakes

  • Why it is important for your business

  • Impact and cost for an organization

  • Upcoming or potential changes

  • Helpful Links

  • Auditing Firms



*You may ask your Question directly to our expert during the Q&A session.

** You can buy On-Demand and view it at your convenience.



Edupliance

Edupliance

Dayna Reum

Dayna is currently the Director of Payroll Operations at Ann & Robert Lurie Children’s Hospital of Chicago. Dayna has been heavily involved in the payroll field over 17 years. Starting as a payroll clerk at a small Tucson company, Dayna moved on to be a Payroll Team Leader at Honeywell Inc. During Dayna’s time at Honeywell she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. She also received several merit awards for Customer Service and Acquisitions and Divestitures.

Miles Hutchinson

Mr. Hutchinson is an accomplished businessman, business consultant and course leader specializing in finance, accounting and taxation. He excels at sharing these complex topics in a crystal clear manner. He is also proficient in sales & use taxation, payroll taxation, public speaking, problem solving, negotiating, time management, computer applications, technical documentation and facilitation.

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.

Matthew Burr

Matthew Burr is a SHRM Certified Exam Instructor and co-teaches the SHRM Exam Prep Course at Elmira College. He is an Adjunct Professor at Corning Community College and Elmira College; teaching Organizational Behavior and Effective Negotiations, along with developing curriculum for a Workplace Readiness course.

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Edupliance is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 7 PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.


This webinar has been approved for 7 HR (General) recertification 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 recertification credit.

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