When: |
07 Mar through 07 Mar 2017 | |
Where: |
Online Event | United States | |
Website URL: |
https://www.atozcompliance.com/trainings-webinar/banking-financial-services/accounting-taxation/irs-and-fatca-compliance-program-practices-to-reduce-irs-penalties/patrick-a-haggerty/300198?utm_source=ref&utm_medium=07Mar | |
Sponsoring organization: |
AtoZ Compliance | |
Categories: |
Business - Finance |
Keywords:
Event description:
FATCA compliance procedures for TIN Verification, B-Notices, and Backup Withholding to reduce IRS penalties
Issuers of 1099 Forms can adopt best practices and procedures that streamline the year end process and provide assurance that 1099s are correct, at least so far as vendor names and TINs are concerned. While certain errors in reporting dollar amounts are considered “inconsequential” under new de minimis error rules, errors in the payee name or TIN are never considered inconsequential and can result in penalties.
Best practices to avoid errors and penalties include TIN solicitation, TIN verification, timely and appropriate response to IRS notices including issuing and follow up on B-Notices to payees, and procedures to implement and discontinue backup withholding as required.
The webinar will discuss the solicitation process including solicitation using and analyzing Form W-9, annual solicitations, B-notices and solicitations in response to IRS notices, and what to do...
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Posting date:
22 February 2017 | 146 views
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