Back to Basics: Revisiting Form 1099-NEC

Form 1099-NEC is the foundational form almost all organizations issue. At its heart, it seems deceptively simple -- it reports payments to independent contractors. But who is a contractor? What exactly do we mean by contract labor? There are many potholes and side roads that can come into play with a seemingly simple form. This session will cover: who is a contractor; what types of payments are contract labor; proper handling of reimbursements; proper reporting of tips and overtime under new tax law; getting the form filed; and dealing with state issues.

Agenda & Learning Objectives

• Define who a contractor is
• Understand what nonemployee compensation is
• Understand how to handle reimbursements to a contractor
• Understand how to properly report tips and overtime payments on a 1099
• Identify how to file the form
• Understand issues surrounding state filings

Featured Speaker

Jason Dinesen

Jason Dinesen, EA, is a distinguished tax professional and educator with a fervent passion for demystifying complex tax concepts. Jason is the founder of Dinesen Tax & Accounting, P.C. and Dinesen Tax Advisory, LLC in the tax and accounting world. He also is founder of Dinesen Media Ventures, which provides a diverse range of media content, ranging from continuing education programs for accountants and tax professionals, to podcast production to radio and journalism content. 

Recognized for his sharp tax interpretations, Jason is renowned for promptly analyzing the latest tax updates and IRS guidance, sharing his insights with the professional community. Over his career, he has educated more than 200,000 accounting, tax, and HR professionals on various topics. Form 1099 was the very first thing he ever taught on, on April 26th, 2012, at a Sheraton Hotel next to a Lowe's in West Des Moines, Iowa. He still teaches on 1099s and around 30 other tax topics.

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Accessibility Information:

IOFM is committed to accessibility. Disability-related accommodation requests for the live event (such as providing live captioning) should be sent to [email protected] by close of business the day before the live webinar. A captioned recording of this webinar can be made available upon request to [email protected].

Cancellation policy:

To cancel your registration for this event, simply contact IOFM customer service at [email protected] no later than 24 hours prior to the scheduled start of the event. You can choose to access the full recorded event, or, your credit may be applied toward the purchase of any IOFM product or interactive event. If for any reason you are not completely satisfied with this program, we will provide a full refund — no questions asked!

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