The 2023 edition of this essential tax compliance training program will provide updates on the IRS campaign against backup withholding noncompliance and will cover the procedures required of a payer/filer that is issued IRS Notice CP 2100 (“B Notice”) or Notice 972CG (information return penalties proposed against your organization).
You’ll learn best practices which better equip you to handle these important Notices when the IRS issues them to your organization, including the three stages of compliance: the initial vendor setup (which can “make or break” your compliance capability); the actions you’re required to take within strict time limits when the IRS CP2100 B Notice is issued to your organization; and how a fact-based and timely response to IRS Notice 972CG, based upon specific subparagraphs of the federal Regulations, can prevent assessment of the proposed penalty amount.
- Best practices for vendor setup and solicitation of TINs (taxpayer identification numbers)
- Resources to validate whether a tax ID number matches your 1099 reportable payee’s name
- Regulatory requirements to backup withholding federal income tax from certain payments and your federal tax deposit schedule for withheld amounts
- Steps for correct processing of B Notices (CP 2100/2100A) issued to your company by the IRS
- Responding to IRS proposed penalty notices (972CG) using your documented TIN solicitation, B Notice and backup withholding history.
- Solicit tax identification numbers from payees as required by tax regulations
- Apply backup withholding to certain payments as required by tax regulations
- Implement payee and IRS correspondence and recordkeeping for regulatory compliance and defense against information return penalty assessments.
Marianne Couch, JD - Principal, Cokala Tax Information Reporting Solutions, LLC
Marianne Couch, JD, a Principal in the Cokala Tax Group, is an advisor on U.S. federal information reporting compliance. She is a frequent lecturer at major tax conferences and the author of numerous published articles. She served for many years as Research Director of an information reporting and withholding consultancy where she chaired special training and advisory services provided to large organizations and academic and nonprofit institutions. She was previously a member of the IRS Information Reporting Program Advisory Committee (IRPAC), where she served as Chair of the IRPAC Subcommittee on Small Business and Self-Employed (SBSE) tax issues. In this capacity, she testified annually before the IRS Commissioner on issues of concern to the information reporting community. Marianne has previously worked as a litigator for a large Michigan law firm, where she represented individuals and large clients in many types of civil actions, and formerly served as a Research Attorney for the Michigan Court of Appeals.
Continuing education credits available!
Continuing Education for IOFM Certification
Receive 2 CEUs toward maintaining a certification with IOFM! IOFM's premier certification programs are designed to establish standards for the industry and recognize financial operations professionals who, by possessing related work experience and passing a comprehensive exam, have met stringent requirements for mastering the body of knowledge in their profession. Additional rules may apply, depending on your certification. See full guidelines here.
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].
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