1099-MISC Reporting of Rents, Royalties, Med Service Providers, Fringe Benefit

Author: Steven D. Mercatante

Form 1099-MISC Reporting of Rents, Royalties, Medical Service Providers, Fringe Benefits, Expense Reimbursements, and Board Members is the course that will help you understand what to do in some of the trickiest reporting situations you will face. In one information packed course you’ll gain a broad understanding of handling complex 1099 issues, with special focus on those related to the Form 1099-MISC. You’ll learn the key elements needed to comply with IRS requirements and discover how best to respond to the IRS.

Publication Date: October 2024

Topics Covered

• The key elements needed to comply with IRS compliance requirements and how best to respond to the IRS
• Requirements to 1099 report and how to recognize when those payments are reportable
• Form 1099-MISC boxes impacting difficult payment situations such as those involving rents, royalties, medical service providers, fringe benefits, expense reimbursements, and board members
• Information you need to collect from your payee to properly report a payment
• Using the W-9 to collect the correct information and when you are required to obtain a signed W-9

Learning Objectives

• Identify the key elements needed to comply with IRS compliance requirements and discover how best to respond to the IRS
• Recognize what you are required to 1099 report and how to recognize when those payments are reportable
• Identify Form 1099-MISC boxes impacting difficult payment situations such as those involving rents, royalties, medical service providers, fringe benefits, expense reimbursements, and board members
• Identify what information you need to collect from your payee to properly report a payment
• Recognize how to use the W-9 to collect the correct information and when you are required to obtain a signed W-9

Level
Basic

Instructional Method
Self-Study

 Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None