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1099 Reporting for the Construction Industry

Sources of non-compliance have now been targeted by the IRS specifically by industry. The proposed 2010 Budget includes the requirement that all Contractors provide businesses with their TIN. Businesses would be required to verify the TIN before making payment. If they can’t verify the TIN they will be required to apply the 28% backup withholding rule. Not only will you be required to provide your TIN but you will be required to obtain TINS from your subcontractors or you will be required to do the 28% backup withholding. 

  • Are you classifying your employees as independent contractors?
  • Determining your payee status.
  • Most frequent mistakes Contractors make in reporting.
  • Learn what payments are reportable?
  • When do you need to backup withhold
  • Registration Fee: $119.00
      

    Schedule:
    Aug 12, 2010 11:00am-12:30pm CST 

    Length: 90 Minutes.
    Level: Basic
    Prerequisite: None. 1099 Primer is recommended.
    Credits: 1.5 CPE Credits. 
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