Form 1099 Reporting: Third-Party Vendors, Foreclosures, Debt Forgiveness & More

Audit & Accounting Operations

On-Demand Webinar

StreamedNov 7, 2024Duration90 minutes

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

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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.

TESTIMONIALS

"The examples were great and very relevant to the operations department."

- Marti, Hawthorn Bank

Presented By

Elizabeth Fast

Spencer Fane LLP