The IRS threw the business community a real curve ball by introducing a new form, the 1099-NEC last year to be used starting in January 2021. The second curve ball was the recent announcement that the form would not be included in the combined Federal/State reporting system. This means a lot more reporting at the state level.
Join us and discover proven methods for more efficiently meeting your State level 1099 reporting requirements as well as get updated on important changes in the law. This is one of the most important topics your organization needs to address. More and more states are partnering with the IRS to concentrate enforcement efforts on payments made by US organizations within individual states that are currently not being reported. Understand the basics of state reporting and explore best practices for determining your reporting requirements – including those brought about by recent changes in state information reporting laws.
After attending you will know how to determine which states have reporting requirements that apply to your organization. You’ll also understand what sales & use, and combined federal/state program compliance risks face your organization and how you should respond. Identify state tax rules that your organization’s staff needs to understand prior to filing season.
After this session, you will be able to:
- Identify state tax rules that your organization’s staff needs to understand
- Determine which states have jurisdiction over a given organization’s business operations.
- Compare and contrast the combined federal state filing programs benefits and shortcomings
- Analyze particular state 1099 reporting requirements in detail.
- Much more….