Audio Conferences

  October 5, 2006 at 02:00PM ET

Form 1099 may appear simple enough on the surface—but don’t be deceived. Each of the 18 numbered boxes on this half-page document represents a potential disaster zone for you and your company.

Even simple mistakes can have serious consequences—penalties can reach $250,000 or more. These penalties apply if you fail to file on time, fail to include all information required to be shown on a return, include incorrect information on a return, or fail to file because you don’t recognize all the payments that are reportable.

Don’t let your organization take this risk. Join IOMA and Balance Consulting for this must-attend audio conference to learn who gets Form 1099-MISC and for which categories of payments.

In just 90 minutes, you’ll get a comprehensive line-by-line review of Form 1099—plus, a look at the new rules in the IRS Final Regulations for gross proceeds payments to attorneys and law firms, which must be reported in Box 14 of the 1099-MISC.

In just 90 minutes you’ll learn:

• What the IRS counts as rent (Box 1) and royalties (Box 2)—it’s probably more than you expected
• How to tell if a prize or award belongs in other income (Box 3) or non-employee compensation (Box 7)
• What to do with the new deferred compensation boxes (Box 15a and 15b) The IRS answers we’ve been waiting for to help make attorney reporting easier (Box 14)
• How to identify vendors that are exempt from being reported on Form 1099-MISC
• Practical tips for getting better Name and Tax ID Number information for your payees—which will prevent troublesome and costly IRS B-Notices

FEATURED FACULTY:

Marianne Couch, Esq. Research Director, Balance Consulting, Inc.

Marianne Couch is Director of Research at Balance Consulting. She is a licensed attorney and an experienced presenter of tax information reporting educational programs. She has been a member of the faculty at the IAPP Annual Forum and IOMA Accounts Payable conferences. She is a member of IRPAC, the Information Reporting Program Advisory Committee to the Internal Revenue Commissioneer.