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IRS Reporting Essentials: Form 1099 & Beyond

Nov 10 2:00 PM - Nov 10, 2020 3:30 PM
Nov 10, 2020 2:00 PM - 3:30 PM
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Year-end predictably brings IRS reporting requirements and deadlines. This timely topic will ensure you can successfully navigate the necessary IRS forms, procedures, and hazards. Now’s the time to learn the best practices for compliance and efficiency.

Learning Objectives

  • Comply with COVID-related IRS guidance
  • Reference guidelines for determining reporting requirements
  • Understand backup withholding issues
  • Obtain taxpayer identification numbers (TINs)
  • Navigate IRS forms, procedures, and landmines, including
    • 1098
    • 1099-A & C
    • 1099-INT
    • 1099-MISC
    • 1099-R
    • 1042
  • Meet reporting deadlines
  • Use best practices

IRS reporting responsibilities continue – even during a pandemic. Borrowers need to know you are complying with all the applicable rules and timelines in this essential operations area. As the end of this tax year approaches, ensure you understand all the guidelines, deadlines, and forms that affect your institution’s IRS reporting requirements.

Whether it is reporting interest earned on deposit accounts or paid on real estate loans, mandatory minimum distributions on IRAs, contractor payments, or declaring a debt canceled, the IRS expects your institution to get it right every time. But what impact do changes in staff, management, business lines, or core processing systems have on your ability to comply with these technical requirements? Is there a way you can save time, effort, and headaches within your IRS reporting compliance program? Can you leverage your data processing system to save time and effort? Join us to learn about the world of IRS reporting and best practices for compliance and efficiency.



David A. Reed, JD, Reed & Jolly, PLLC

Attorney, author, consultant, and nationally recognized speaker, David Reed is a partner in the law firm of Reed & Jolly, PLLC. He provides guidance to financial institutions on establishment and revision of policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters, and corporate governance. His engaging speaking style has made him a nationwide lecturer on regulatory compliance, consumer lending, bankruptcy, and collections.

A former trial attorney and vice president and general counsel of a large regional financial institution, David is also a Certified Fraud Examiner. He is particularly known as an expert in the areas of operations, bankruptcy, and collections. He has trained state and federal examination staff on numerous issues, including BSA, ID theft red flags, SAFE Act, third party contract management, and bankruptcy. 




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