This 1-day seminar covers best practices for developing policies and procedures for third party information reporting. We’ll cover 1099 and 1042 regulatory topics, what’s required and how to implement systems to ensure compliance.

• Learn the year round processes that help you create the documentation auditors ask for.
• An in-depth review of the “10 steps to compliance”
• Documenting vendors, customers, account holders, claimants
• How to obtain and document correct W-9’s and W-8 forms
• Learn the best practice on who should solicit the W-9
• Establish a policy for reporting LLC’s and sole proprietors
• Are you prepared for the first question an auditor will ask during an audit?
• Learn how to implement a system for backup withholding in your department
• Define a step by step approach to B-Notice Compliance
• Learn how to process a CP2100
• Create a foolproof checklist to determine independent contractor status
• 5 proven directives for writing a Penalty Abatement Letter
• How to take advantage of every aspect of the IRS TIN Matching System
• Finally, a complete job description you can share with your manager
• Who should be on your compliance committee to ensure a successful process?
• Take advantage of electronic technology in every aspect of obtaining information from vendors to filing electronic forms
• Take home, matrixes, cheat sheets and check lists ready to use

This class includes hands-on exercises and practical tips to help you learn best practices to ensure your organizations compliance.

This is a 1 Day class.

Registration Fee: $299.00

Hotel information will be posted on the location page as venues are confirmed.

Level: Basic
Prerequisite: None. Recommend 1099 Primer Webinar, 1099 Basics Webinar or 1099 Essentials.
CPE Credits: 7 CPE

WE HAVE COMPLETED OUR 2010 LIVE CLASSES. WE WILL BE SCHEDULING MORE FOR SPRING OF 2011. LOOK FOR OUR SCHEDULE AT THE BEGINNING OF THE NEW YEAR. CHECK OUT OUR ONLINE AND ON-DEMAND CLASSES. PLEASE SEE OUR ONLINE CLASS SCHEDULE.

Post Seminar Support: As a seminar alumnus you receive 6 months tax question support following attendance. Get answers to your questions from our experts by emailing questions@ncomplianceservices.com.