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TIN Matching to Reduce Your B-Notices and Eliminate Proposed Penalties

  EVENT DATE

October 22, 2018

  PRESENTER(s)

Miles Hutchinson

  02:00 PM ET | 01:00 PM CT | 11:00 AM PT |120 Minutes

Course Field of Study : Tax
Course Program Level : Basic



DESCRIPTION



How do you know your vendor’s W-9s are correct? What are the consequences of filing incorrect name and ID numbers on their 1099s?

In just 90 minutes, you can begin to develop a solid plan to move your company toward near absolute regulatory compliance, efficiency improvements, standardized processes and adequate documentation to ensure your 1099s contain accurate information that will agree with the IRS’s records. You will all but eliminate your B-Notices from the IRS!

This webinar highlights the opportunities to reduce the risk of being out of compliance with your Form 1099 reporting requirements with the Internal Revenue Service. This session will discuss registration with the IRS, the two methods you may use to perform electronic Name/Taxpayer Identification Number matching. It will also discuss best practices protocols for handling CP-2100 notification from the IRS regarding Name/TIN mismatches on your forms 1099, 1098, etc (commonly known as B-Notices). Understand the difference between and 1st and 2nd B-Notice and the related differences in required vendor responses.

This IRS regulatory compliance training will explain the TIN matching system best practices to eliminate form 1099 reporting errors. It will also provide you the tools to effectively handle B- Notices in order to avoid fines and penalties.

Areas Covered in the Webinar:

  • Starter Question: What is TIN Matching?
  • What are the benefits of the TIN Matching System?
  • Who must request access to the TIN Match system?
  • How do we register to use the system, including the 2-step verification system introduced 12/10/17?
  • How does the TIN Match system work?
  • What are the best practices for managing 1099 reporting requirements?
  • How do I deal with vendors who report incorrect information on their W-4’s?
  • B-Notices: when I receive a letter from the IRS stating I have incorrect names/TINS on my 1099’s, what must I do and what about the deadlines?
  • What if You receive a Notice of Proposed Penalty?
  • How do we negotiate a reduction or eliminate the penalty?
  • How do we leverage the Reasonable Cause Regulations?
  • How does TIN Matching impact the fight to reduce proposed penalties?

Attend this webinar and you will learn the answers to all of these questions!

Who Will Benefit:

  • CFOs
  • Controllers
  • Compliance Managers
  • Accounting Managers
  • Accounts Payable Managers
  • Payroll Professionals
  • Any institution that makes reports on forms 1099-INT, 1099-B, 199-DIV, 1099-PATR, & 1099-MISC

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