This webinar will cover when Forms 1099-NEC and 1099-MISC need to be issued. We will cover who issues 1099s and to whom, and for what transactions. Then we’ll talk about a different form – the 1099-K – and how some types of transactions go on a Form 1099-K, which relieves you of needing to issue a 1099 yourself.
We will also cover various scenarios businesses may find themselves in, and how such transactions are reported. And since this webinar is also focused on compliance, we will cover how to tell the difference between a contractor and an employee, which is a growing area of IRS audits – and states are becoming more aggressive with this as well. As part of this discussion we will look at the Form W-9 and how to use it for compliance. We will cover reimbursements to contractors … and also throw a light on the question – Are those reimbursements reportable on a 1099 or not?
