Webinars

  July 21, 2009 at 02:00PM ET

It’s tough out there in the tax world, and AP is caught in the middle when the Form 1099 tax rules come up against the payment realities of P-cards, credit cards and debit cards.

New regulations for new tax reporting by the card processing middlemen are only adding to the confusion!

On one side is the IRS, enforcing regulations for W-9s, 1099s, and backup tax withholding on certain service payments no matter how the payment was made—whether by check, EFT, cash, or card.

On the other side is the card processing system, where your card provider has vital information you may not have about the vendor, and payment can be in the vendor’s hands before you even know a card was used.

A new law requires the processors of card transactions to report to the IRS the gross amounts they pass through to the merchant or service provider, and to do backup withholding—but this new law did not remove your obligation to 1099 report many of the very same payments.

So what is the best policy for the AP department to follow in 2009?

Join us on July 21 at 2PM ET where you will learn the latest on critical reporting issues like:

• How and why the Form 1099 tax rules apply to purchasing cards and company cards
• The two sets of tax rules for treatment of company cards vs. reimbursing employees for use of their cards
• Where things stand in the 5-year struggle of the IRS to make regulatory changes for 1099 reporting and backup tax withholding on payments processed through a card system
• How to screen out some 1099 reporting with TCC numbers and IRS Revenue Procedure 2004-43
• Real-world policies some AP departments are using to address these issues

Register now for this information-packed 90-minute program that will show you how to spot trouble areas, capture all reportable items, and avoid costly errors in complying with the IRS 1099 tax reporting rules.

These rules impact your daily work, as well as your year-end reporting obligation, so don’t miss out! Register today for just $275 – IOMA subscribers pay just $245! Your single paid registration entitles you to as many participants as you wish in a conference room setting.

FEATURED FACULTY

Marianne Couch, JD
Principal, Cokala Tax Information Reporting Solutions, LLC

Marianne Couch, JD, of the Cokala Tax Group, is an advisor on U.S. federal and state tax information reporting compliance. She is a frequent lecturer at major tax conferences and the author of numerous published articles. She served for many years as Research Director of Balance Consulting, and chaired special training and advisory services provided to large organizations and academic and nonprofit institutions. She was previously the executive director of the National Association of Form 1099 Filers, Inc., and a member of the IRS Information Reporting Program Advisory Committee (IRPAC), where she served as Chair of the IRPAC Subcommittee on Small Business and Self-Employed (SBSE) tax issues. In this capacity, she testified annually before the IRS Commissioner on issues of concern to the information reporting community. Marianne formerly served as a Research Attorney for the Michigan Court of Appeals.