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All About 1099 Reporting Part 2: Forms 1099-INT & 1099-MISC: Vendor Payments, Prizes & Interest on Deposit Accounts

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.

Dec 12, 2017 02:00 PM   -­­  Dec 12, 2017 03:30 PM
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Type of Event
Webinar

Who Should Attend
  • Webinars
  • Compliance
  • Finance

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Description

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.

Learning Objectives

  • 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

Speaker

Elizabeth Fast, JD, CPA, Spencer Fane, LLP 

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