All About 1099 Reporting Part 2: Forms 1099-INT & 1099-MISC: Vendor Payments, Prizes & Interest on Deposit Accounts
Wednesday, December 13, 2017
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
All financial institutions are required to file numerous 1099-INT and 1099-MISC forms each year. Do you know when and how to correctly file these forms? For example, Form 1099-MISC must be filed if your institution awards a prize worth $600 or more, but Form 1099-INT must be filed if the prize is $10 or more and related to a deposit account. Form 1099-MISC must be filed when your institution pays a vendor $600 or more per year, but there are exceptions if the vendor is a certain type of legal entity. Join us to learn how, when, and what to report on Form 1099-INT and Form 1099-MISC. The new 2017 Forms 1099-INT and 1099-MISC will be reviewed line-by-line.
Continuing Education: Attendance verification for CE credits upon request
- What to report, when to file, and penalties for not filing properly
- Line-by-line review of Form 1099-INT (Interest Income)
- What to do if an item or gift is given to an accountholder
- How to determine what constitutes reportable interest
- Line-by-line review of Form 1099-MISC (Miscellaneous Income)
- How to determine which vendors you must report
- TAKE-AWAY TOOLKIT
- New 2017 Forms 1099-INT and 1099-MISC and the official IRS instructions
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
PART 1 STILL AVAILABLE!"All About 1099 Reporting Part 1:
Forms 1099-A & 1099-C: Foreclosures, Repossessions & Debt Settlements"
Wednesday, October 18, 2017
WHO SHOULD ATTEND?
This informative session will be useful for all deposit operations staff, loan operations personnel, accounting clerks, tax personnel, accountants, management, compliance officers, and attorneys.
PLEASE NOTE: Program content is subject to copyright and intended for your individual financial institution’s use only.