BEGIN:VCALENDAR
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CALSCALE:GREGORIAN
BEGIN:VEVENT
DTSTAMP:20240328T162503Z
UID:141feda5-5c19-4e96-86aa-340f07b96541
DTSTART:20210427T083000
DTEND:20210428T083000
CLASS:PRIVATE
DESCRIPTION:
Complete 1099\, TIN Matching\, B-Notice\, FATCA and Nonresi
dent Alien 1042-S Compliance Update
\n\n* LIMITED TIME OFFE
R: FREE $100 AMAZON GIFT CARD! *
\nREGISTER TODAY!
strong>
\n\n \;
\n\nThe average cost of a Notice of Propos
ed Penalty is estimated at US $150\,000 including the penalty itself and t
he added costs for consultants\, personnel\, remediation of legacy records
\, etc. Compliance is far less expensive than the alternative.
\n\n
\n - Are you in compliance with the regulations surrounding data collect
ion\, backup withholding and information reporting?
\n - How do you
determine whether you can accept a W-9 from someone or if you must request
a W-8 instead?
\n - What if you send them a 1099 when you should ha
ve sent them a Form 1042-S?
\n - How will you deal with an IRS deman
d for the backup withholding you failed to deduct from a Nonresident Alien
&rsquo\;s (NRA&rsquo\;s) payments?
\n
\n\nThis seminar will foc
us on addressing these issues and many more compliance and regulatory issu
es pertaining to IRS forms 1099 and 1042-S. It will also address complianc
e with Title 26\, CFR 1402(b) &\; (c)\, employee v. independent contrac
tor distinction\, and 1441 (withholding of tax on nonresident aliens and f
oreign corporations) mandates.
\n\nIn this two day workshop\, partic
ipants will learn how to identify independent contractors and non-resident
aliens. We will analyze case studies to:
\n
\n
\n
\n
\nSeminar Fee Includes:
\n
\n
\n
\n
\nLunch
\nAM-PM Tea/Coffee
\nSeminar Material
\nUSB with seminar pres
entation
\nHard copy of presentation
\nAttendance Certificate
\n$100 Gift Cert for next seminar
\n
\n
\n \;\n\
n - Ensure you fully understand the most efficient process
\n - Co
mmunicate effectively with the payee to obtain correct and properly execut
ed Form W-8 or W-9 from the payee
\n - Determine whether and how muc
h must be subjected to backup withholding
\n - Confirm whether the n
ame and tax ID of the payee match the IRS databases
\n - Expedite th
e handling of your B-Notices
\n - Fight a notice of proposed penalty
\n
\n\n \;
\n\n \;
\n\nIn addition\, atten
dees will learn the best method to process 1099 and 1042-S reporting to bo
th your payees and the IRS using best practices.
\n\nDue to the enac
tment of the Foreign Accounts Tax Compliance Act (FATCA)\, the course will
address issues related to the use of forms W-9 and W-8 to comply with bot
h Chapters 3 and 4 of the internal revenue code.
\n\nThrough case st
udy analysis\, the presenter will illustrate best practices to maximize th
e performance of your current system. Additionally\, case studies will als
o explore how your management practices can be improved to help ensure com
plete regulatory compliance.
\n \;\n\n \;
\n\n 
\;
\n\nLearning Objectives:
\n\nOn completing this course\,
participants will:
\n\n\n - Be well versed in the information re
porting process
\n - Understand the importance of obtaining forms W-
9 or W-8 on all payees
\n - Be able to reduce the amount of time and
resources necessary to handle the company&rsquo\;s information reporting
mandate
\n - Be able to minimize the risk and effort involved in per
forming backup withholding
\n - Improve the accuracy of their regula
tory reporting process
\n - Enhance the relationship between the com
pany and clients/vendors\, etc.
\n - Be able to help reduce the comp
any&rsquo\;s potential exposure to penalties for noncompliance with inform
ation reporting and withholding regulations
\n - Have a clear action
plan for implementing best practices for compliance
\n
\n \;\
n\n \;
\n\n \;
\n\n \;
\n\nWho Wil
l Benefit:
\n\nIndividuals with regulatory or quality management sy
stems responsibilities for making general improvements in their organizati
on&rsquo\;s performance specifically related to regulatory compliance will
find this course a must attend. This includes the following professionals
:
\n\n\n - Regulatory professionals
\n - Information report
ing officers
\n - Certified payroll professionals
\n - Complia
nce professionals
\n - Tax professionals
\n - Finance officers
\n - CFOs
\n - Controllers
\n - Bank officers
\n Accounting managers\n - Accounts payable managers
\n - Docu
ment control specialists
\n - Human resources professionals
\n <
li>Record retention specialists\n - Legal Professionals
\n -
IT managers
\n - Risk managers
\n
\n \;\n\n \;
h3>\n\n \;
\n\n \;
\n\nTopic Background:
\
n\n
For years the IRS has struggled with independent contractors and tax
collection. In assessing opportunities to close the tax gap (taxes due bu
t not reported or paid)\, one of the greatest opportunities comes from exp
anding information reporting on taxpayers by payers &ndash\; the 1099. Col
lecting the tax due from NRAs working in the US is a Tier 1 audit issue. T
his tax burden is minimized when companies making payments to NRAs for dep
endent and independent personal services properly withhold on these paymen
ts. This time consuming reporting obligation can be streamlined in a numbe
r of ways.
\n\nThe IRS has placed the burden on businesses\, non-pro
fits and not-for-profits as well as all levels of government to report inf
ormation about taxable payments they make to their account holders\, vendo
rs and customers. In order to more accurately match our information report
ing to taxpayer&rsquo\;s tax returns they have introduced an &lsquo\;e-ser
vices&rsquo\; portal to help us ensure the names and tax identification nu
mbers provided to us by our payees match their records (TIN Matching Syste
m). When used properly\, this system can reduce the risk of Warning Letter
s (CP-2100s/B-Notices) and penalty notices (972-CGs) from the IRS. Every y
ear the IRS sends out millions of CP2100 Notices identifying incorrect nam
es/TINS on 1099s. These letters have a very short deadline for responding.
\n \;\n\n \;
\n\n \;
\n\n \;
\
n\nField of Study:
\n\n\n - Auditing: 0.5 CPE Credit
\n
- Behavioral Ethics
\n - Business Management &\; Organization
li>\n
- Communications: 0.5 CPE Credit
\n - Personnel: 0.5 CPE Cre
dit
\n - Management Advisory Services
\n - Specialized Knowled
ge and Applications
\n - Tax: 13 CPE Credit
\n
\n\n \
;
\n\n \;
\n\n \;
\n\n
\n----------
--
\nAGENDA
\n------------
\n\n \;
\nDAY 01(8:30 AM - 5:00 PM)
\n \;\n\n - 08.30 AM - 09.00 AM: Registration
\n - 09.0
0 AM: Session Start\n
\n - Information reporting process overview\n
\n - Who you are paying &ndash\; are they reportable? How are th
ey reported?
\n - What you are paying &ndash\; is it reportable? I
s it withholdable?
\n
\n \n - Best practices to set up
payees in your system to ensure compliance with IRS reporting rules
\n
\n \n - Form W-9 Information Gathering\n
\n - Learn wh
en a Form W-9 is required and when they are not necessary
\n - How
to test the accuracy of the W-9 information with the IRS&rsquo\;s records
for free
\n - How to deal with incorrect information on Form W-4\n
- Highlight on the Form W-9 impact of FATCA
\n - When to in
itiate backup withholding and at what rate
\n - How to handle over-
withholding
\n
\n \n - Form 1099 Reporting\n
\n - W
ho and what you pay determines whether you must report (1099 reporting)\n
- Forms to use to document your payee as reportable or non-reporta
ble
\n - Required governmental reporting on independent contractors
\n - A detailed review of Form 1099-Misc &ndash\; guidelines for p
roper use and classification of diverse payments on this form
\n -
Best practices for filing 1099s with the IRS
\n - The government wa
nts to remove the reporting exemptions &ndash\; what this means to you
\n - How to handle incorrect information reported on Form 1099
\n
- Best practices for managing 1099 reporting requirements
\n
\
n \n - Using TIN Matching to Reduce Errors and Build Your Due Dilig
ence Case\n
\n - Applying for access to the TIN Matching system &nd
ash\; the required information will surprise you
\n - How to use th
e TIN Matching system &ndash\; interactive and bulk upload sessions and pr
otocols
\n - How to use IRS reports from the system
\n - How
to handle missing or incorrect TIN notification from the system
\n
ul>\n
\n - Backup Withholding\n
\n - When to initiate backup
withholding &ndash\; two main trigger points
\n - Depositing backu
p withholding
\n - How to report backup withholding
\n - How
to deal with over-withholding &ndash\; refunds are permitted
\n
\n \n
\n
\n
\n
\n
\n
\nDAY 02(8:
30 AM - 4:30 PM)
\n \;\n\n - CP-2100 Notices and B
-Notices\n
\n - Procedures and checklist for responding to IRS noti
ces of missing and incorrect TINs
\n - Setting up the control log
li>\n
- Creating and maintaining the documentation &ndash\; excellent s
upport for proving due diligence
\n - Identifying sources of errors
\n - Determining when to send a 1st and 2nd B-Notice to the payee<
/li>\n
- Managing undeliverable B-Notices
\n - Annual follow-up
solicitation requirements
\n - Backup withholding &ndash\; when to
begin\, when to stop withholding
\n - New documentation required to
properly complete a 2nd B-Notice (the SSA has changed the procedure again
)
\n
\n \n - Responding to Penalty Notices\n
\n - R
eview the recent changes in penalties related to information reporting
\n - Discover best practices to handle a Notice of Proposed Penalty (9
72-CG letters)
\n - Review sample response letter to address the re
asonable cause provisions and support your claim that no penalty should be
assessed
\n
\n \n - Nonresident Alien Reporting\n
\n
- How to determine whether NRAs are working for you (reprise &ndash\; w
ho are you paying)
\n - Review the five Forms W-8 including the new
W-8BEN-E just released in Q1-2021
\n - Learn about the drafts of r
evised Forms W-8 soon to be released
\n - Learn how to determine wh
ich W-8 to provide to the NRA
\n - Discover how a NRA individual mu
st support their claim of exemption from withholding
\n - Learn the
best way to handle questions from NRAs who do not understand your request
s or the forms
\n - Examine a tax treaty and learn how to use it to
confirm a claim of exemption or reduced rate of backup withholding
\n
- Discover how to make your backup withholding deposits timely and kee
p the IRS from confusing them with your payroll tax withholding deposits
li>\n
- Study the 1042-S and related forms for filing and reporting bac
kup withholding on the Annual Withholding Tax Return
\n - Avoid pen
alties for under-withholding and failure to report your NRA&rsquo\;s
\
n - Discover best practices for managing NRA information reporting and
backup withholding
\n
\n \n - FATCA &ndash\; The Foreign A
ccounts Tax Compliance Act\n
\n - Purpose of FATCA
\n - Case
study &ndash\; comparative study of two offenders with significantly diff
erent outcomes
\n - How the IRS and US Treasury are attacking the p
roblem (of US Citizens hiding assets in offshore accounts)
\n - Imp
act of FATCA on US companies\, US citizens\, Foreign Financial Institution
s (FFIs) and Non-Financial Foreign Entities (NFFEs)
\n - Model 1 an
d Model 2 agreements
\n - Mandated procedures for opening new accou
nts in FFIs
\n - Exceptions to the reporting requirements
\n <
li>Grandfathering provisions
\n - Expansion of Forms W-8 to help ad
dress FATCA reporting
\n - Explanation of the impacts of FATCA on f
orms 1099\, 8938\, &\; FBAR-FinCEN 114 (fka TD F 90-22.1)
\n - U
seful tables and charts for determining the definitions of foreign financi
al assets requiring reporting under FATCA
\n - Penalty risks for no
ncompliance including the extended statute of limitations
\n
\n <
/li>\n\n\n \;
\n\n \;
\n\n \;
\n\n-------------
\nSPEAKER
\n-------------
\n\n \;
\n\n \;
\n
\nMiles Hutchinson
\nCGMA\, President of Sales Tax Advisors
\, Inc.\nMiles Hutchinson is a CGMA\, and experienced businessman. He h
as been an auditor with PriceWaterhouseCoopers and the Chief Financial Off
icer of a $1 billion real estate development company. Miles is a professio
nal speaker and consultant who has presented over 2\,000 seminars and trai
ning sessions on a myriad of business and financial topics\, like financia
l analysis and modeling\, accounting\, strategic planning\, and compliance
with the Sarbanes-Oxley Act. He is recognized as an expert in payroll and
sales &\; use tax as well as financial modeling &\; analysis\, busi
ness strategy and communications.
\n\nHe is the author of several us
eful accounting and tax tools. His clients include Abbott Labs\, Bank of A
merica\, Boston Scientific\, Citicorp\, Corning\, the FBI\, the FDA\, the
Federal Reserve\, GE\, Pfizer\, Siemens\, US Marine Corps\, and the US Arm
y.
\n\n \;
\n\n \;
\n\n \;
\n\nPlease
contact the event manager Marilyn (marilyn.b.turner(at)nyeventslist.com )
below for:
\n- Multiple participant discounts
\n- Price quotatio
ns or visa invitation letters
\n- Payment by alternate channels (PayP
al\, check\, Western Union\, wire transfers etc)
\n- Event sponsorshi
ps
\n
\nNO REFUNDS ALLOWED ON REGISTRATIONS
\nService fees
included in this listing.
\n-----------------------------------------
------------------------
\nThis event is brought to you by:
\nME
TRICSTREAM INC - NewYorkEventsList
\nhttp://www.NyEventsList.com
\nhttp://www.BostonEventsList.com
\nhttp://www.SFBayEventsList.com\n-----------------------------------------------------------------
\n
\nMYL171201CEV MAR180106UPD
\n
SUMMARY:Complete 1099\, TIN Matching\, B-Notice\, FATCA and Nonresident Ali
en 1042-S Compliance Update
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ACTION:DISPLAY
TRIGGER:-PT1H
SUMMARY:Complete 1099\, TIN Matching\, B-Notice\, FATCA and Nonresident Ali
en 1042-S Compliance Update
END:VALARM
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