1099- MISC Issues for 2011: What You Need to Know
Overview:
2010-2011 proved to be a tumultuous year for taxpayers especially in the area of 1099 reporting requirements. Although the passing of the Comprehensive 1099 Taxpayer Protection and Replacement of Exchange Subsidy Overpayments Act of 2011 nullified some of the thorniest issues, companies, small businesses, and tax payers need to understand the new 1099 requirements left over to stay ahead of the penalty curve. The Knowledge Group is assembling a panel of distinguished professionals and key regulators to help businesses and tax payers understand the most recent developments in 1099 reporting requirements. The speakers will share their expert opinions in a two-hour LIVE Webcast. They will discuss:
- Fundamentals and Updates on FORM 1099-MISC
- Notable Case History Regarding Independent Contractors
- Employee vs. Independent Contractor Status
- Identifying the differences between employees and IC’s
- Aspects of control
- Potential penalties and remedies for misclassification
- Getting Ready for an Exam
- Modernized Twenty Factor Test: Common Law Rules as they appear on Form SS-8
- New IRS settlement initiative
- And answers to questions submitted by you!
Agenda:
SEGMENT 1:
Raelane Hoff, FSLG Specialist
Internal Revenue Service
- What’s new –Recent changes in the law
- Fundamentals—Requirements for 1099MISC filing
- Common Errors—Ways to avoid mistakes
SEGMENT 2:
Mario J. Fazio, Partner,
Meyers, Roman, Friedberg & Lewis
- Independent contractor vs. employee classification
- Aspects of control
- Penalties for misclassification and requirements for relief
- New IRS settlement initative
SEGMENT 3:
William F. Becker, Jr., CPA, MBA, Tax Partner,
Cherry, Bekaert & Holland, L.L.P.
- New reporting options for workers that believe they are misclassified
- Requirements for workers filing Form 8919
- IRC Section 530 Relief provisions for business preventing workers from being reclassified as employees
- Overview of requirements
- Understanding tests used for determination
- Consistency Test
- Reasonable Basis Test
SEGMENT 4:
Marcia L. Miller, MBA, EA, President,
Financial Horizons, Inc.
- Modernized Twenty Factor Test: Common Law Rules as they appear on Form SS-8
- Behavioral Control
- Financial Control
- Types of Relationships
- Notable Case History Regarding Independent Contractors
- Freelance Strippers Sue Employer
- Microsoft "Freelancers"
- Fedex Ground/Home Delivery
- Nokia Hires from 3rd Party
- Nascar Woes
Who Should Attend:
- CPAs
- Finance Officers
- Controllers
- Consultants
- Tax preparers
- Legislative Attorneys
- Tax Directors
- Accountants or Attorneys practicing on Tax Advice and Controversy
- General Counsel
- Tax Advisors
- Federal Tax Litigation Attorneys
Raelane works as a Federal, State, and Local Government Specialist for Indiana. In this position, she works directly with government …
Mario Fazio, Esq., Chair of the Taxation practice area at Meyers, Roman, Friedberg & Lewis, is a Certified Specialist in …
WILLIAM F. BECKER JR., CPA, MBA, is a tax partner in the Tampa office of Cherry, Bekaert & Holland, L.L.P. …
Marcia has provided extensive tax and business advisory services primarily to corporate clientele for over 30 years as President of …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
114114
Total Credits:
2.0 CLE
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SPEAKERS' FIRMS:
Internal Revenue Service
Cherry, Bekaert & Holland, L.L.P.
About Internal Revenue Service
About Meyers, Roman, Friedberg & Lewis
Meyers, Roman, Friedberg & Lewis, an eastside Cleveland law firm founded in 1995, provides a full spectrum of legal services to individuals and businesses including Corporate, Construction, Green law, Litigation, Estate Planning, Family Law, Labor/Employment, Real Estate, Tax and Mediation. The attorneys at Meyers Roman are dedicated to achieving results through sound, practical solutions tailored to their clients’ unique objectives.
Website: https://www.knowledgecongress.org/event_2011_1099-MISC.html#
About Cherry, Bekaert & Holland, L.L.P.
About Financial Horizons, Inc.
Financial Horizons, Inc. is an established, thirty year old, tax and consulting firm offering services to improving both one’s business and personal bottom line.
As accountatnts, Financial Horizons, Inc. has the role of being the taxpayer’s guide to organizing tax savings. For business owners, Financial Horizons, Inc. acts as the extension to the management staff providing effective accounting and financial analysis, For the investor clientele, Financial Horizons, Inc. serves as a sounding board & suggests the best structure to maximize after-tax returns on their investments.
Financial Horizons, Inc. strives to be a part of any taxpayer’s financial team while providing the assurance that this firm will give you more than just a tax return.
Website: https://www.knowledgecongress.org/event_2011_1099-MISC.html#