2019 Year-End Changes and Hot Topics in Form 1099 Tax Reporting

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Thursday, September 19, 2019 | 2:00PM - 3:45PM Eastern Time

This webinar will address what’s new and what to watch out for in Form 1099 reporting to the IRS for tax year 2019.  And, we’ll look ahead to 2020 with an explanation of the new Form 1099-NEC and how to plan for implementing this new 1099 which will impact payments you make from January 2020 onward. 

Hot topics for year-end 2019 include:  No automatic extensions of filing (and how the very limited “hardship” extensions work); special required procedure if box 7 1099-MISC returns are filed after January 31; new focus on payments made in virtual currencies; higher penalty amounts; updates for electronic 1099 filing; IRS has authority to require more electronic filing but will the new rules change be effective for this year end?  

Hot topics for tax year 2020:  New Form 1099-NEC filing required for two types of payments previously reported on the 1099-MISC; what changes in your Payables coding or procedures may be required to meet the 1099-NEC requirement; changes in the 1099-MISC; lowering the threshold for mandated efiling of 1099s; President’s budget proposal to raise the $600 reporting threshold to $1,000. 

Learning objectives: 
   Identify changes to Form 1099 reporting for tax year 2019
 
Identify changes in 1099-MISC and new 1099-NEC reporting for 2020

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Featured speaker:

Marianne Couch, JD - Principal, Cokala Tax Information Reporting Solutions, LLC

Marianne Couch, JD, a Principal in the Cokala tax group since its founding early in 2007, is an experienced and well-known advisor on U.S. federal and state tax information reporting compliance. She is a frequent lecturer at major tax conferences and the author of The Master Guide to Form 1099 Compliance and numerous published articles. She is a founding partner of Cokala. Previously, she was for many years the Research Director of the tax reporting specialty firm Balance Consulting, and chaired special training and advisory services provided to large organizations and academic and nonprofit institutions. She also formerly served as the executive director of the National Association of Form 1099 Filers, Inc.

Marianne was an appointee for three years to the IRS Information Reporting Program Advisory Committee (IRPAC), where she was Chair of the IRPAC Subcommittee on Small Business and Self-Employed (SBSE) tax issues.

Marianne formerly served as a Research Attorney for the Michigan Court of Appeals, and earlier as a litigator for a large Michigan law firm, where she represented individuals and large clients in many types of civil actions. She received her JD, cum laude, from the Michigan State University School of Law, and is a member of the State Bar of Michigan.


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