Product Description

Settlements, damages, and garnishments all create tax compliance risk for your organization. You must be able to:

Identify all amounts that require Form 1099 reporting,
Report all payees unless there’s a documented reason to exempt them, and
Withhold income tax when the tax regulations require it, AND
Know when a W-2 from Payroll is needed instead of a 1099.
Mark your calendars now to attend this interactive webinar where renowned Form 1099 compliance advisor Marianne Couch will clarify these serious issues for you to help you avoid costly errors. You’ll also get the facts on how big changes in federal tax law will impact your 1099-reportable settlements, damage payments and garnishments, including:

Requirement to issue 1099-MISC to corporations, beginning 2012
Requirement to report gross proceeds payments on 1099-MISC, could completely change how you treat property damage payments
Backup withholding rate, scheduled to change beginning 2011
Tax penalty increases, passed by House and awaiting Senate action.
Join us to learn the answers to these most-asked questions:

How can you make sense of a settlement in order to identify who gets a 1099?
Which legal damages are reportable and which are exempt from being reported?
Why are some garnishments reportable if paid to an attorney, and others are not?
How can you get the information you need from your legal department or your organization’s own attorney?
Which damages or settlements are reportable on Form W-2 and must not go on a Form 1099?
What are the rules for duplicate reporting of the same dollars to both the claimant and the claimant’s attorney?
On Form 1099-MISC, what is the difference between Box 7 attorney payments and Box 14 attorney payments?
Plus, get answers to your specific questions in the Q&A session following the presentation.

FEATURED FACULTY:

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

Marianne Couch, JD, a co-founder 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 prior to 2007 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.