Form 1099 Reporting: Third-Party Vendors, Foreclosures, Debt Forgiveness & More
November 7, 2024
Live Webinar
DateNov 7, 2024Duration90 minutes
08:00 AM PST09:00 AM MST
10:00 AM CST11:00 AM EST
- Unlimited connections for your institution
- Available on desktop, mobile & tablet
- Take-away toolkit
- Presenter’s contact info for questions
On-Demand Webinar
- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
There are a wide variety of 1099 forms.
Does your institution know when
and how to file each type? What documentation is needed? What kind of data is
required to complete each one? Join this line-by-line review of Forms 1099-A,
1099-C, and 1099-MISC to make this year’s reporting a breeze.
AFTER THIS
WEBINAR YOU’LL BE ABLE TO:
- Properly
complete:
- Form 1099-A, Acquisition or Abandonment of Secured Property
- Form 1099-C, Cancellation of Debt
- Form 1099-MISC, Miscellaneous Information
- Know when Form 1099-A must be filed when repossessing or foreclosing on collateral and understand the exclusions
- Distinguish what constitutes cancellation of debt for purposes of Form 1099-C
- Understand when Form 1099-MISC must be filed for vendor payments, and which are exempt
- Explain the rules for reporting miscellaneous types of income under Form 1099-MISC
WEBINAR DETAILS
Financial institutions are required to report many
different types of transactions on IRS Form 1099. For example, Form 1099-A must
be filed when your institution forecloses on collateral (but there are many
exceptions you need to know). Form 1099-C must be filed when a debt is cancelled
(these rules can apply even though the debt hasn’t been forgiven). Form
1099-MISC must be filed when your institution pays a third-party vendor (but
there are exceptions if the vendor is a specific legal entity). In this webinar,
you will learn how, when, and what to report on Forms 1099-A, 1099-C, and
1099-MISC – including a line-by-line review of each.
WHO SHOULD ATTEND?
This informative session
will be useful for all deposit operations personnel, loan operations personnel,
accounting clerks, tax personnel, accountants, managers, compliance officers,
auditors, and attorneys.
TAKE-AWAY TOOLKIT
- IRS General Instructions for Certain Information Returns
- IRS-specific instructions for Forms 1099-A, 1099-C, and 1099-MISC
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission,
or republishing of any webinar to other institutions or those not employed by
your institution is prohibited. Print materials may be copied for eligible
participants only.
Presented By
Spencer Fane LLP
© 2024 FINANCIAL EDUCATION & DEVELOPMENT, INC
