Form 1099-MISC and 1099-NEC Compliance Update 2021

Recorded Session
60 Minutes

This webinar will covers the latest updates businesses need to be aware of with the 1099-NEC and 1099-MISC. This includes changes in the American Rescue Plan relating to Form 1099-K, which in turn affects the 1099-NEC and 1099-MISC. We will also cover topics such as: how (or if) you report payments made to contractors through Venmo. We also cover the basics, at the beginning, such as what is a 1099, who gets a 1099, what are “medical payments” and what are “legal payments”? 

WHY SHOULD YOU ATTEND?

Form 1099 reporting has always been tricky, and changes in 2020 and 2021 continue to increase the reporting burden. Tucked away in the American Rescue Plan was a change to reporting on a form called a 1099-K, which has an interaction with contract labor reported on the 1099-NEC. More and more contractors are taking payment via apps such as Venmo - how are those payments reported? Or are they reported at all? These are among the things you’ll learn in this fast-paced, 1-hour webinar.

AREA COVERED

  • A look at the 2021 version of the 1099-NEC and 1099-MISC
  • What is a 1099?
  • Who gets a 1099?
  • When do corporations get 1099s? A review of medical payments and legal payments
  • How to file 1099s
  • Form 1099-K: updates and interactions with the 1099-NEC
  • Form W-9 updates and discussion
  • Dealing with reimbursements to contractors
  • Who exactly is a contractor?

WHO WILL BENEFIT?

  • Accountants
  • Tax preparers
  • Human resources professionals
  • Payroll professionals

Form 1099 reporting has always been tricky, and changes in 2020 and 2021 continue to increase the reporting burden. Tucked away in the American Rescue Plan was a change to reporting on a form called a 1099-K, which has an interaction with contract labor reported on the 1099-NEC. More and more contractors are taking payment via apps such as Venmo - how are those payments reported? Or are they reported at all? These are among the things you’ll learn in this fast-paced, 1-hour webinar.

  • A look at the 2021 version of the 1099-NEC and 1099-MISC
  • What is a 1099?
  • Who gets a 1099?
  • When do corporations get 1099s? A review of medical payments and legal payments
  • How to file 1099s
  • Form 1099-K: updates and interactions with the 1099-NEC
  • Form W-9 updates and discussion
  • Dealing with reimbursements to contractors
  • Who exactly is a contractor?
  • Accountants
  • Tax preparers
  • Human resources professionals
  • Payroll professionals
Currency:
Webinar Option
Transcript (PDF Transcript of the Training)
Downloadable Recorded Session
USB

Speaker Profile

ins_img Jason Dinesen

Jason Dinesen is the President of Dinesen Tax & Accounting, P.C., a public accounting firm in Indianola, Iowa. His practice focuses on accounting and bookkeeping services, tax preparation and business advising to individuals with a business focus ranging from home-based businesses to multistate corporations and not-for-profits. Dinesen has extensive experience working with a third-party administrator of retirement plans and is a prior presenter of multiple 1099 seminars. Dinesen majored in corporate communications with a minor in management from Simpson College

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