Audio Conferences

  December 8, 2005 at 02:00PM ET

Filing Form 1099 is one of the most difficult and complex issues affecting today’s accounts payable professionals. Make one tiny mistake and you could spend endless hours responding to one of those pesky IRS notices.

Did you know the IRS could send you B-Notice error listings of Taxpayer Identification Numbers and Taxpayer Names that don’t match IRS records? And they could send you penalty notices proposing you pay $50 for each problematic Form 1099. With penalties reaching as high as $250,000, can you really afford to make a mistake?

Join IOMA and Balance Consulting to make sure you’re handling IRS notices correctly and learn the strategies you need to prevent and avoid penalties going forward. In just 90 minutes, you’ll find out:

• B-Notice processing requirements, including which B-Notice entries do not require follow-up action
• How to respond to IRS penalty notices for $50 per incorrect Form 1099. These penalties do not have to be paid if you know which arguments the regulations specify are eligible for waiver of penalty.
• The rules for Form W-9 solicitations
• Documentation requirements: What the IRS looks for during examination
• IRS TIN Matching program: How you can pre-screen taxpayer names and numbers to avoid B-Notices and IRS $50 penalties

Level: Intermediate

Prerequisites: None

FEATURED FACULTY:

Michael Boyle, Balance Consulting LLC

Michael Boyle is Senior Staff Writer of Balance Consulting’s Information Reporting Bulletin and the author of articles, books, and tutorial guides on Form 1099 compliance procedures. A popular and experienced presenter of Balance Consulting’s tax compliance seminars, he is also a regular speaker at the National Form 1099 Information Reporting Conference and at other professional meetings.