Best Practices 2020 - Understanding IRS Form 1099-NEC and Form 1099-MISC and Best Practices Live Webinar Online

In July 2019, the IRS issued a release draft of a new Form 1099 for use commencing in the 2020 tax year (i.e., in 2021), a Form 1099-NEC to replace the Form 1099-MISC, Box 7 and Box 9 for reporting direct sales of $5,000 or more.
The result of issuing incorrect forms is often penalties imposed on the payer. This information will help payers avoid penalties as well as limit the number of corrected forms they will have to prepare.
You will be able to review why the IRS brought back Form 1099-NEC.
You will be able to explain how to input the new Form 1099-NEC information.
Speaker:
Senior tax counsel, CPLS, P.A.
Practice emphasizes helping clients who are faced with the filing of certain IRS forms that lead to disputes, as well as tax disputes with the IRS, probate and Federal and state court disputes involving partners and members and estates