Skip to Content

Complete 1099, TIN Matching, B-Notice, FATCA 2017

Start Date:
Thursday, 2 November, 2017
End Date:
Friday, 3 November, 2017 4:30pm
Neurology, Infectious Disease, Rheumatology, Internal Medicine, Radiology, Emergency Medicine, Pulmonary Medicine, Family Practice

Course "Complete 1099, TIN Matching, B-Notice, FATCA and Non-resident Alien 1042-S Compliance Update" has been pre-approved by RAPS as eligible for up to 12 credits towards a participant's RAC recertification upon full completion. Overview: For years the IRS has struggled with the independent contractor, the non-resident alien worker, US citizens with foreign financial accounts and tax collection. They have placed the burden on businesses, non-profits and not-for-profits as well as state and local government to report information about taxable payments they make to their account holders, vendors and customers.

In assessing opportunities to close the tax gap (taxes due but not reported or paid), one of the greatest opportunities comes from expanding information reporting on taxpayers by payers - the 1099 and the 1042-S. These time consuming reporting obligations can be streamlined in a number of ways.In order to more accurately match our information reporting to taxpayer's tax returns the IRS introduced an "e-services" portal to help us ensure the names and tax identification numbers provided to us by our payees match their records.

It is known as the TIN Matching System. When used properly, this system can reduce the risk of IRS warning letters (CP-2100s/B-Notices) and penalty notices (972-CGs). Every year the IRS sends out millions of CP2100 Notices identifying incorrect names/TINS on 1099's. And these letters have a very short deadline for responding. Why you should attend: How do you determine whether you can accept a W-9 from someone or you must request a W-8 instead? What if you send them a 1099 when you should have sent them a form 1042-S.? How will you deal with an IRS demand for the backup withholding you failed to deduct from the Nonresident Alien's (NRA's) payments? The IRS is working hard to reduce the delinquent tax burden.

They know we are becoming relatively compliant with our 1099 reporting, but they also know we are far less sure of ourselves when it comes to identifying and performing backup withholding on our NRA's. Collecting the tax due from NRAs working in the U.S. is a Tier 1 audit issue. This tax burden is minimized when companies making payments to NRAs for dependent and independent personal services properly withhold on these payments.The average cost of a Notice of Proposed Penalty is estimated at US $150,000 including the penalty itself and the added costs for consultants, personnel, remediation of legacy records, etc.Compliance is far less expensive than the alternative.

Are you in compliance with the regulations surrounding data collection, backup withholding and information reporting? In this two day workshop conference you will learn how to identify independent contractors and non-resident aliens. We will analyze case studies to help ensure you fully understand the most efficient process and how best to communicate with the payee to obtain correct and properly executed Form W-8 or W-9 from the payee, determine whether and how much must be subjected to backup withholding, how to confirm the name and tax ID of the payee match the IRS databases, exactly how to expedite the handling of your B-Notices, and how to fight a notice of proposed penalty.

In addition, you will learn the best method to process your 1099 and 1042-S reporting to both your payees and the IRS using best practices.Due to the enactment of the Foreign Accounts Tax Compliance Act (FATCA), the course will address the issues related to the use of Forms W-9 and W-8 to comply with both Chapters 3 and 4 of the internal revenue code.Through case study analysis we will examine best practices to provide thoughts and ideas to maximize the performance of your current system.

Additionally, case studies will explore how your management practices can be improved to help ensure full regulatory compliance. Learning Objectives: Upon completing this course participants should:Be well versed in the information reporting process includingThe importance of obtaining Forms W-9 or W-8 on all payeesBe able to reduce the amount of time and resources necessary to handle the company's information reporting mandateBe able to minimize the risk and effort involved in performing backup withholdingImprove the accuracy of their regulatory reporting processEnhance the relationship between the company and clients/vendors, etc.Be able to help reduce the company's potential exposure to penalties for noncompliance with the information reporting and withholding regulationsHave a clear action plan for implementing best practices for compliance Who Will Benefit: This course is designed for people tasked with maintaining and improving certifications as Certified Payroll Professionals and Accounts Payable Specialists and Managers and addresses compliance with Title 26, CFR §1402(b) & (c), (Employee v. independent contractor), §1441 (Withholding of Tax on Nonresident Aliens and Foreign Corporations).

This includes individuals that have regulatory or quality management systems responsibilities for making general improvements in their organization's performance specifically related to regulatory compliance.Compliance ProfessionalsPayroll ManagersHuman Resources ProfessionalsAccounts Payable ManagersAccounting ManagersControllersFinancial OfficersCFO'sTax SpecialistsRegulatory ProfessionalsBank OfficersLegal ProfessionalsIT ManagersRisk Managers Agenda: Day 1 Schedule Lecture 1:Information Reporting Process OverviewWho you are paying - are they reportable? How are they reported?What you are paying - is it reportable? Is it withholdable?Best practices procedure to set up payees in your system to ensure compliance with the IRS reporting rulesLecture 2:Form W-9 Information GatheringLearn when to require a Form W-9 and when they are not necessaryHow to test the accuracy of the W-9 information with the IRS's records - for free!How to deal with incorrect information on form W-4Highlight on the Form W-9 impact of FATCAWhen to initiate backup withholding and at what rateHow to handle over withholdingLecture 3:Form 1099 ReportingWho and what you pay determines whether you must report (1099 reporting)Forms to use to document your payee as reportable or non-reportableRequired governmental reporting on independent contractorsA detailed review of Form 1099-Misc - guidelines for proper use and classification of diverse payments on this formBest practices for filing 1099s with the IRS - TIP: never file early!The government wants to remove the reporting exemptions - what this means to youHow to handle incorrect information reported on forms 1099Best practices for managing 1099 reporting requirementsLecture 4:Using TIN Matching to Reduce Errors and Build Your Due Diligence CaseApplying for access to the TIN Match system - the required information will surprise youHow to use the TIN Match system - Interactive and Bulk upload sessions and protocolsHow to use the IRS reports from the systemHow to handle missing or incorrect TIN notification from the systemLecture 5:Backup WithholdingWhen to initiate backup withholding - Two main trigger pointsDepositing backup withholdingHow to report backup withholdingHow to deal with over withholding -refunds are permitted Day 2 Schedule Lecture 1:Procedures and checklist for responding to IRS notices of missing and incorrect Tax Identification Numbers (TINs)Setting up the control logCreating and maintaining the documentation - excellent support for proving due diligenceIdentifying sources of errorsDetermining when to send a 1st and 2nd B-Notice to the payeeManaging undeliverable B-NoticesAnnual follow-up solicitation requirementsBackup withholding - when to begin, when to stop withholdingNew documentation required to properly complete a 2nd B-Notice (yes, the SSA changed the procedure again)Lecture 2:Responding to Penalty NoticesReview the recent changes in penalties related to information reportingDiscover best practices to handle a Notice of Proposed Penalty (972-CG letters)Review sample response letter to address the Reasonable Cause provisions and support your claim that no penalty should be assessedLecture 3:Non-Resident Alien ReportingHow to determine whether Nonresident Aliens are working for you (Reprise - Who are you paying)Review the five forms W-8 including the new W-8BEN-E just released in Q1-2014Learn about the drafts of revised forms W-8 soon to be releasedLearn how to determine which W-8 to provide to the NRADiscover how a NRA individual must support their claim of exemption from withholdingLearn the best way to handle questions form NRAs who do not understand your requests or the formsExamine a tax treaty and learn how to use it to confirm a claim of exemption from or reduced rate of backup withholdingDiscover how to make your backup withholding deposits timely and keep the IRS from confusing them with your payroll tax withholding depositsStudy the 1042-S and related forms for filing and reporting backup withholding on the Annual Withholding Tax ReturnAvoid the penalties for under-withholding and failure to report your NRA'sDiscover the best practices for managing NRA information reporting and backup withholdingLecture 4:FATCA - The Foreign Accounts Tax Compliance ActPurpose of FATCACase study - a tale of two offenders with significantly different outcomesHow the IRS and US Treasury are attacking the problem (of US Citizens hiding assets in offshore accounts)Impact of FATCA on US companies, US citizens, Foreign Financial Institutions (FFIs) and Non-Financial Foreign Entities (NFFEs)Model 1 and Model 2 AgreementsMandated procedures for opening new accounts in FFIsExceptions to the reporting requirementsGrandfathering provisionsExpansion of Forms W-8 to help address FATCA reportingExplanation of the impacts of FATCA on forms 1099, 8938, & FBAR-FinCEN 114 (fka TD F 90-22.1)Useful tables and charts for determining the definitions of foreign financial assets requiring reporting under FATCAPenalty risks for noncompliance, including the extended statute of limitationsSpecial Note: Attendees will receive valuable charts, flow diagrams, policies, procedures and helpful links to many other invaluable resources designed to provide a complete back study of these topics, all included in the price of the seminar.

SpeakerMiles HutchinsonPresident, Sales Tax Advisors, Inc. Miles Hutchinson has been an auditor with PriceWaterhouseCoopers and the Chief Financial Officer of a $1 billion real estate development company. Miles is a professional speaker and consultant who has presented over 2,500 seminars and training sessions on a myriad of business and financial topics, including financial analysis and modeling, accounting, strategic planning, financial reporting and compliance with the Sarbanes-Oxley Act.

He is recognized as an expert in payroll and sales & use tax as well as financial modeling & analysis, business strategy and communications. He is the author of several useful accounting and tax tools available at and His clients include, Abbott Labs, Bank of America, Boston Scientific, Citicorp, Corning, the FBI, the FDA, the Federal Reserve, GE, Pfizer, Siemens, US Marine Corps, and the US Army.

Please visit his web sites to see how you can further benefit from his expertise. Location: Baltimore, MDDate: November 2nd & 3rd, 2017 and Time: 8:30 AM to 4:30 PMVenue: WILL BE ANNOUNCED SOON Baltimore, MD Price: Price: $1,295.00 (Seminar Fee for One Delegate)Register for 5 attendees Price: $3,885.00 $6,475.00 You Save: $2,590.00 (40%)* Register now and save $200. (Early Bird)Until September 20, Early Bird Price: $1,295.00 From September 21 to October 31, Regular Price: $1,495.00Register for 10 attendees Price: $7,122.00 $12,950.00 You Save: $5,828.00 (45%)* Sponsorship Program benefits for "Quality Assurance Auditing for FDA Regulated Industry" seminarAt this seminar, world-renowned FDA Regulated Industry subject matter experts interact with CXO's of various designations.

Executives who carry vast experience about FDA Regulated Industry and Experts get down to discussing industry-related best practices, regulatory updates, changes in technologies, and much more relating to FDA Regulated Industry. As a sponsor of these seminars, you get the opportunity to have your product and company reach out to C-Level executives in FDA Regulatory-related industries and become known among these elite executives and subject matter experts.

Apart from being seen prominently at these globally held seminars, you also get talked about frequently in our correspondences with our experts and these participants. For More Information- Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-priority:99;mso-style-parent:"";mso-padding-alt:0in 5.4pt 0in 5.4pt;mso-para-margin-top:0in;mso-para-margin-right:0in;mso-para-margin-bottom:10.0pt;mso-para-margin-left:0in;line-height:115%;mso-pagination:widow-orphan;font-size:11.0pt;font-family:"Calibri",sans-serif;mso-ascii-font-family:Calibri;mso-ascii-theme-font:minor-latin;mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin;}

Organizer Details

Conference organized by NetZealous DBA as GlobalCompliancePanel

NetZealous LLC-globalcompliancepanel, 161 Mission Falls Lane, Suite 216, Fremont,CA94539, USA
Event Manager

Medical conference data provided by Meetings4Docs | Report a problem

Upcoming Related Conferences

Nov 2

Medical CBT for Anxiety: Ten-Minute Techniques for Real Doctors (South Pacific cruise, 2019) 13 - 27 April m/s Paul Gauguin Papeete, Tahiti French Polynesia
Listed in: Family Practice