1099 Reporting of Settlements and Payments for Legal Services: Ensuring 2017 Tax Compliance

webinar 1099 Reporting of Settlements and Payments for Legal Services: Ensuring 2017 Tax Compliance

You Will Learn:

  • How to comply with IRS rules when reporting attorney fees and other third-party payments
  • Documentation requirements and instructions for form 1099-MISC
  • Common reporting issues that crop up with incorporated legal service providers
Watch the pre-recorded web conference
$269.00
 

Do you report payments made to an attorney for legal services and legal settlements?

Do you have the necessary tools and information to handle the complicated issues that surround the reporting and withholding requirements of payments to attorneys, including legal settlements and the double reporting these payments can require?

What if you only get the name and the amount of the payment?  Is that enough information to determine your organization’s reporting obligations for these payments? According to the IRS... NO!

Learning Objectives

This information-packed webinar will give you the tools and knowledge you need to confidently:

  • Comply with IRS rules when reporting attorney fees and other third-party payments
  • Meet documentation requirements and instructions for form 1099-MISC
  • Avoid common reporting issues that crop up with incorporated legal service providers

Plus, you will learn what your organization needs to be doing now to be meet reporting deadlines and ensure compliance, including:

  • How Form 1099-MISC reporting requirements have expanded
  • How to report punitive legal damage awards and gross proceeds paid to attorneys
  • Which payments are taxable and reportable and which are considered exceptions
  • Handling 1099 reporting for settlement agreements
  • Whether attorney fees are reportable in box 7 or 14
  • When an LLC is not reportable as a corporation and when it is as a company
  • How to report multi-member LLC’s with corporate owners
  • Tips on identifying the payee in situations involving 1099 reportable garnishments

Product ID: 15405

Learn the Ins and Outs of 1099 Filing Requirements!

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Faculty

Steven D. Mercatante, Esq.
Steven D. Mercatante, Esq.
Principal and Founder, TIR Consulting

Steven Mercatante is the principal and founder of TIR Consulting, LLC. He is a nationally recognized leader in tax reporting education and consulting on specialized compliance issues. He has conducted on-site consultation for corporate clients from across the world and led countless seminars and webinars for C4CM, Convey Compliance Systems, IAPP, Balance Consulting, The Accounts Payable Network, and Accounts Payable Now and Tomorrow.

Learn the Ins and Outs of 1099 Filing Requirements!

Get it on demand now

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