The average cost of a Notice of Proposed Penalty is estimated at US $150,000 including the penalty itself and the added costs for consultants, personnel, remediation of legacy records, etc. Compliance is far less expensive than the alternative.
This seminar will focus on addressing these issues and many more compliance and regulatory issues pertaining to IRS forms 1099 and 1042-S. It will also address compliance with Title 26, CFR 1402(b) & (c), employee v. independent contractor distinction, and 1441 (withholding of tax on nonresident aliens and foreign corporations) mandates.
In this two day workshop, participants will learn how to identify independent contractors and non-resident aliens. We will analyze case studies to:
In addition, attendees will learn the best method to process 1099 and 1042-S reporting to both your payees and the IRS using best practices.
Due to the enactment of the Foreign Accounts Tax Compliance Act (FATCA), the course will address issues related to the use of forms W-9 and W-8 to comply with both Chapters 3 and 4 of the internal revenue code.
Through case study analysis, the presenter will illustrate best practices to maximize the performance of your current system. Additionally, case studies will also explore how your management practices can be improved to help ensure complete regulatory compliance.
Note: Use coupon code 232082 and get 10% off on registration.