A NEW compliance training presentation. The federal regulations which govern Backup Withholding income tax from a Form 1099 reportable payment are detailed and demanding. Learn the details, how to navigate the deposit and reporting channels and how to mitigate risk in this area of tax compliance which has been spotlighted in a recent IRS regime of compliance audits.
- How to spot payments that require Accounts Payable to withhold federal tax
- Time schedule for withholding tax and paying it forward in a federal tax deposit
- Using the online Electronic Federal Tax Payment System (EFTPS)
- Essential identification: Keeping AP’s backup withholding deposits separate from Payroll tax
- Annual filing of IRS Form 945 to report backup withholding from 1099 reportable payments
Learning objectives: Reduce risk to your organization by identifying when and how to withhold the required tax and deposit it to the U.S. Treasury
Marianne Couch, JD - Principal, Cokala Tax Information Reporting Solutions, LLC
Marianne Couch, JD, is a Principal in the Cokala tax group and 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, The Master Guide to Form 1042-S Compliance and numerous published articles. Prior to co-founding Cokala in 2007, 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.
Marianne was an appointee for three years to the IRS Commissioner’s 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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