Over the past 2 years, the IRS has had a renewed focus on Form 1099 compliance, and we have seen a number of large audits on this area. We have seen many organizations under these audits realize that the processes they put in place were not sufficient for this often-overlooked area of compliance.

This session is intended for organizations and individuals who already have put in place a Form 1099 process but want to take another look to ensure that they are not at risk for penalties. We will discuss the common pain points and provide practical advice on how to better improve your operational process. The session will also cover the best approaches when you realize that there are potential gaps in your process or have received penalty notices from the IRS.What You'll Learn:Updates: Current 1099 Landscape

• IRS Audit Activity and Areas of Focus
  
• Transmitter Control Codes (TCC)
  
• Information Return Intake System (IRIS)

Advanced Issues: Common Pain Points and Potential Audit Exposure

• State 1099 Reporting
  
• Legal Settlements
  
• Medical and Legal Services
  
• Reimbursements

Best Practices

• TIN Matching
  
• Responding to Penalty Notices
  
• Correcting Past Issues

Questions and Answers