Are you ready to master the ins and outs of Form 1099 for the 2024/2025 tax season? With frequent updates and complex tax rules, navigating the 1099 maze can feel daunting. Whether you're a tax professional or business owner, understanding the requirements and exceptions surrounding 1099 forms is essential to staying compliant.

In this course, we will break down the latest updates on Form 1099-NEC, 1099-MISC, and 1099-K. You will gain clarity on the new IRS W-9 form, the $600 threshold for reporting, and how to determine if corporations should receive 1099s. Additionally, we will dive into contract labor payments, medical and legal fee reporting, and how different types of payments impact your 1099 filings.

Learning Objectives:-

• Discuss updates to Forms 1099-NEC, 1099-MISC, and 1099-K for 2024/2025.
• Analyze the updated IRS W-9 guidelines to ensure accurate reporting compliance.
• Identify payment types requiring 1099s, including contract labor, medical, and legal fees.
• Discuss the $600 threshold for 1099-K filings and its implications.
• Analyse strategies to minimize penalties and ensure timely, accurate 1099 filings.

Areas Covered:-

• New IRS Form Updates
• Reporting Contract Labor Payments
• 1099-K Filing and Thresholds
• Medical & Legal Reporting
• Penalties and Compliance Strategies

Join us today to ensure you’re up to date with the most crucial IRS updates for Form 1099-NEC, 1099-MISC, and 1099-K for the 2024/2025 tax season.

Who Should Attend?

• Tax professionals
• Business owners
• Accountants
• Payroll managers
• Financial consultants