Webinar: Form 1099 Reporting: Third-Party Vendors, Foreclosures, Debt Forgiveness & More
Financial institutions are required to report many types of 1099 forms to the IRS each year. Does your credit union know when and how to file each type of 1099? For example, Form 1099-A must be filed when you foreclose on collateral. You must file Form 1099-MISC if your credit union awards a prize worth $600 or more. Form 1099-INT must be filed when you give $10 to a member to open a new account. This webinar will reviews the proper use of the forms listed below and when they must be filed. The new versions of each form for the 2013 tax year will also be covered.
About This Session:
This webinar will cover the following topics:
- What to report, when to file, and penalties for not filing properly
- 1099-A: Acquisition or Abandonment of Secured Property
- 1099-C: Cancellation of Debt
- 1099-INT: Interest Income
- 1099-MISC: Miscellaneous Income
- TAKE-AWAY TOOLKIT with copies of the 2013 IRS instructions for Forms 1099-A, 1099-C, 1099-INT and 1099-MISC, an employee training log and a staff quiz/answer key
Who Should Participate:
Operations personnel, tax personnel, accounting clerks, accountants, management, compliance officers and attorneys
About the Presenter:
Elizabeth Fast, JD, CPA, Spencer Fane Britt & Browne, LLP
Elizabeth Fast, Esq., is a partner with Spencer Fane Britt & Browne LLP, where she specializes in the representation of financial institutions and acts as head of the firm's training division. Before joining Spencer Fane, she was general counsel, SVP and corporate secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory and compliance functions. Fast is a member of the Missouri State Banking Board by appointment of the governor.
- On Demand Link and CD Rom - Available until May 31, 2014