Thursday
Oct 31
2019

1099 Reporting: Foreclosures, Repossessions & Debt Settlements

Registration Options & Pricing

Please select your membership status.


Recorded Webinar Includes

  • Recording of the Live Webinar
  • Available 6 business days following Live date
  • Handout and Take-Away Toolkit
  • Available on Desktop, Mobile & Tablet
  • Free Digital Download, yours to keep
  • Share link with anyone at your bank
  • Presenter’s contact info for follow-up
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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

Financial institutions are required to file Form 1099-A and/or Form 1099-C when they foreclose or repossess collateral or forgive or cancel debt. For example, Form 1099-A must be filed when the financial institution forecloses on collateral (but there are many exceptions you need to know), and Form 1099-C must be filed when the institution cancels a debt (even if you haven’t actually forgiven the debt). Join us for a line-by-line review and learn how, when, and what to report on Forms 1099-A and 1099-C.

Attendance certificate provided to self-report CE credits.

HIGHLIGHTS

  • Line-by-line review of Form 1099-A: Acquisition or Abandonment of Secured Property
  • Filing requirements and exclusions for foreclosing on real property and repossessing personal property
  • What happens if you don’t acquire the property at the foreclosure sale?
  • Line-by-line review of Form 1099-C: Cancellation of Debt
  • What constitutes cancellation of debt for purposes of Form 1099-C?
  • What if the debtor files bankruptcy?

  • TAKE-AWAY TOOLKIT
    • IRS General Instructions for Certain Information Returns
    • IRS Instructions for Forms 1099-A and 1099-C
    • Employee training log
    • Interactive quiz

WHO SHOULD ATTEND?

This informative session will be useful for all loan operations personnel, accounting clerks, tax personnel, accountants, management, compliance officers, auditors, and attorneys.

DON'T MISS THIS RELATED WEBINAR!

"IRS Reporting Requirements: 1098s, 1099s, TINs & Backup Withholding"
Tuesday, December 3, 2019

 

NOTE:  All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.

MEET THE PRESENTER

Spencer Fane LLP
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