IRS Form 1099 Reporting: What You Need to Know

The 1099 forms are confusing … Can you afford to only grasp the basics?

Faculty

Brookfield, WI • November 10, 2010 • ID# 384999

Continuing Education Credit• CPE 8.0• CPP/FPC (Pending) • Enrolled Agents 8.0

For more detailed CE credit information, visit us at www.lorman.com/ID384999 or contact us at 866-352-9540.

Keeping You Current.Helping You Succeed.®

R

A DIVISION OF LORMAN BUSINESS CENTER, INC.

Moderator:Brian D. Quandt, M.Acc., CPA, Baker Tilly Virchow Krause, LLP

Christa M. Baldridge, CPA, Baker Tilly Virchow Krause, LLPJessica T. Kawczynski, M.S.T., CPA, Baker Tilly Virchow Krause, LLPKathy S. Rotta, CPA, Baker Tilly Virchow Krause, LLPJay V. Mouille, CPA, Baker Tilly Virchow Krause, LLPRyan C. Frohmader, M.S.T., Baker Tilly Virchow Krause, LLPJustin J. Beres, M.S.A., Baker Tilly Virchow Krause, LLP

LEGAL

U

PDAT E

Includes Major Changes to

1099 Reporting Laws Included

in the Health Care Bill

Your Course AgendA

Brian D. Quandt, M.Acc., CPA

Senior tax manager in the partner development program, Commercial GroupB.B.A. degree in accounting, University of Wisconsin-MadisonM.Acc. degree, University of Wisconsin-Madison

Christa M. Baldridge, CPA

Senior tax manager, Manufacturing/Distribution GroupB.S. degree in accounting, University of Wisconsin-LaCrosse

Jessica T. Kawczynski, M.S.T., CPA

Tax manager, Retail/Dealership GroupB.S. degree in accounting, Arizona State UniversityM.S. degree in taxation, University of Wisconsin-Milwaukee

Kathy S. Rotta, CPA

Tax manager, Commercial GroupB.B.A. degree in accounting, University of Wisconsin-Whitewater

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Jay V. Mouille, CPA

Tax Manager, Commercial GroupB.B.A. degree in accounting, California State University, Sonoma

Ryan C. Frohmader, M.S.T.

Tax accountant, Construction/Real Estate GroupB.B.A. degree in accounting, University of Wisconsin-MilwaukeeM.S. degree in taxation, University of Wisconsin-Milwaukee

Justin J. Beres, M.S.A.

Tax accountant, Commercial GroupB.B.A. degree in accounting, University of Wisconsin-MilwaukeeM.S. degree in accounting, University of Wisconsin-Milwaukee

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This seminar will be presented by Brian D. Quandt, M.Acc., CPA, Christa M. Baldridge, CPA,

Jessica T. Kawczynski, M.S.T., CPA, Kathy S. Rotta, CPA, Jay V. Mouille, CPA, Ryan C. Frohmader, M.S.T.,

and Justin J. Beres, M.S.A.

8:00 am – 8:30 am Registration

8:30 am – 10:35 am Overview of the IRS Form 1099

Filing RequirementsWalking Through the Various 1099sPurpose of Form 1099Deadlines for Providing and Filing Form 1099Penalties for Failure to ComplyHow to File: Electronic vs. PaperForm 1096

Recipient Names and ID NumbersHow to ObtainTaxpayer Identification Number MatchingBackup Withholding

Common Form 1099 Preparation and Submission Errors

Types of ErrorsCorrecting ErrorsVoiding 1099s

10:35 am – 10:45 am Break

10:45 am – 11:45 am Incorrect Usage of Form 1099

Employee Auto AllowancesCasual LaborDomestic EmployeesBonuses

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11:45 am – 12:00 pm Introduction to Independent Contractor Issues

12:00 pm – 1:00 pm Lunch (On Your Own)

1:00 pm – 2:30 pm Independent Contractor vs. Employee

IndicatorsDefinitions and ExamplesSpecial Reporting SituationsPenalties

Reporting Obligations to Non-U.S. IndividualsU.S. Information ReportingExceptions and ExemptionsWhen Withholding Is RequiredEffects of Treaties

2:30 pm – 2:40 pm Break

2:40 pm – 4:15 pm Recent Developments Affecting 1099 Reporting

Health Care ActHire ActCancellation of Debt Issues

Dealing With 1099s in the Real WorldReceiving an Incorrect 1099Common Dilemmas

4:15 pm – 4:30 pm Questions and Answers

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Your seminAr LeAders

Your Benefits of Attending

GeNeral INformatIoN: • This seminar may be recorded by Lorman. • If you need special accommodations, please contact us two weeks in advance of the program. • Lorman Education Services is not approved to offer self-study CPE credit for accountants; therefore, no CPE will be given for this program if ordered as a self-study package.CaNCellatIoNs: Substitute registrants can be named at any time. A full refund, less a $20 service charge, will be given if notification is given six or more business days in advance. Notification of less than six business days will result in a credit that can be applied to any Lorman products or services. If you do not cancel or attend, you are responsible for the entire payment. © 2010 Lorman Education Services. All rights reserved.

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Payment InformationAmount enclosed $___________ Check enclosed payable to Lorman Education Services Charge to credit card ___AE___mC___VISA

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SEmINAr IdLoCATIoN dATE

Where Is It?Sheraton Milwaukee Brookfield Hotel 375 South moorland road262-786-1100Brookfield, WI

The 1099 forms are confusing … Can you afford to only grasp the basics?

Independent contractors save your business money, but increasing IRS scrutiny can put you at risk. Fail to meet all the 1099 filing requirements, and you may land in a hotbed of penalties. With a maze of 1099 forms, and confusing and ever-changing IRS reporting guidelines, mastering the 1099 can be a daunting task for any business.

Attend this informative seminar and sharpen your 1099 savvy. Develop better, more accurate reporting skills – keep your business audit-ready and in compliance. Determine a worker’s status without hesitation – every time – and stay current and in the clear.

Benefits for YouObtain an overview and refresher of Form 1099 filing requirementsIdentify and avoid common 1099 filing mistakes and how to correct common errorsUnderstand the importance of distinguishing between independent contractors and employeesLearn and understand the impact to your organization due to recent changes in 1099 reporting requirements

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Seminar Tuition (includes free manual with attendance)Yes! I would like to attend. ($319 per person) Yes! I would like to bring a colleague. ($269 per each additional registrant) Yes! I would like the Best Value discount. ($418 per package [$319] plus CD recording [$99*] of this seminar)

I am unable to attend but I am interested in: CD/Manual Package* ($339) Manual Only* ($119)

Amount Enclosed$ __________ Tuition Subtotal$ __________ Shipping & handling ($7.95 first item, $1.00 each additional)

$ __________ Sales Tax (If tax-exempt, please include your certificate.)$ __________ ToTAL

*Add $7.95 shipping & handling plus applicable sales tax to product orders. Please allow four to six weeks after the date of the seminar for delivery.

How Do I Register?email: customerservice@lorman.comwebsite: www.lorman.com/Id384999 telephone: 866-352-9539 fax: 715-833-3953mail: Mail this form with payment information to:

Lorman Education Services dept. 5382, P.o. box 2933 milwaukee, wI 53201-2933

RegisteR nowwww.lorman.com/ID384999

Who Will Be There?This seminar is designed for accountants, CFos, controllers, accounts payable professionals, tax managers, enrolled agents, presidents, vice presidents and bookkeepers.

Brookfield, WI November 10, 2010 384999dISCouNT CodE

FREEManual

with attendance

Take $50OFFwhen you register a second attendee

Keeping You Current. Helping You Succeed.®

EDUCATION SERVICES

R

A DIVISION OF LORMAN BUSINESS CENTER, INC.

Presorted Standardu.S. Postage

PAIdLormAN EduCATIoN

SErVICES

IRS Form 1099 Reporting $119 Value!

Continuing Education Credit• CPE 8.0• CPP/FPC (Pending)• Enrolled Agents 8.0For more detailed CE credit information, visit us at www.lorman.com/ID384999 or contact us at 866-352-9540.

expRess RegistRation www.lorman.com/ID384999

IRS Form 1099 Reporting: What You Need to Know

Brookfield, WI • November 10, 2010 • ID# 384999

IRS Form 1099 Reporting: What You Need to KnowBrookfield, WI • November 10, 2010 • ID# 384999

Full-Day Seminar

Keeping You Current. Helping You Succeed.®

EDUCATION SERVICES

R

A DIVISION OF LORMAN BUSINESS CENTER, INC.P.o. box 509 • Eau Claire, wI 54703

LEGAL

UPDAT E

Includes Major Changes to

1099 Reporting Laws Included

in the Health Care Bill