Master Guide to Form 1099 Compliance | E-Book

 2019 Master Guide to Form 1099 (E-Book)

The 2019 Master Guide to Form 1099 Compliance provides detailed instruction surrounding the reporting rules, regulation updates and changes, and provides indexed information for the very wide range of 1099 reporting scenarios that you could encounter in Accounts Payable.

Sections clarify the use of Form W-9; payments reportable on Form 1099-MISC; payee types that are exempt from being reported; backup income tax withholding requirements; handling IRS “B” notices and proposed penalty notices; settlement and attorney payments; filing to the IRS; furnishing recipient copies; and more. The wealth of supporting documentation will help inform your actions and ensure that you are reporting accurately, on-time, and stay in compliance. 

Highlights and important updates from the 2019 edition include:

• New Form 1099-NEC for nonemployee services compensation payments made in 2020 
• Special filing procedure required for 2019 box 7 1099-MISC returns filed after January 31 
• New IRS compliance campaign targeting failures to backup withhold tax from payments when EINs and SSNs of 1099 reportable payees are missing or incorrect  
• Changes in tax Code and Regulations will require more efiling of 1099s to the IRS 
• Penalties increased for incorrect and late-filed 1099s

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