Reporting compliance has long been a source of anxiety for the business owner as well as their accountant. The IRS has been increasing the penalties for failing to comply with these reporting requirements significantly in recent years. Are you sure that you know all the rules for reporting compliance in order to keep your client from being penalized? This course is Part 2 of a comprehensive 3-part series that will help you understand the 1099 information reporting forms.
This Part 2 course will cover proper 1099 preparation from forms you may be familiar with yet may be unknowingly making mistakes, to 1099s that you may not encounter as often as may be missing filing requirements completely. The specific form instructions we cover in this course include the new 1099-NEC, along with the 1099-MISC, 1099-C, 1099-A, 1099-INT, 1099-OID, 1099-K, 1099-PATR, 1099-DIV, 1099-B, 1099-CAP, 1099-G, 1099-H, 1099-LTC, 1099-R, 1099-S, 1099-SA, 1099-Q, 1099-QA and Form 1096 as well as Form 8809. As you can see by the list, this essential course will save you and your clients costly penalties well into the future by simply understanding the compliance requirements.