TIN Matching to Reduce Your B-Notices and Eliminate Proposed Penalties
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Learn the best practices for eliminating 1099 error notices from the IRS. Discover the power of the TIN Matching system. Learn how to handle the CP-2100 notices from Uncle Sam and avoid the fines & penalties for failure to timely comply with the B-Notice requirements. Understand the difference between and 1st and 2nd B-Notice and the related differences in required vendor responses. Be sure you institute and stop Backup Withholding when required.
Why you should Attend: How do you know your vendor's W-9's are correct? What are the consequences of filing incorrect name and ID numbers on their 1099's? In just 90 minutes, you can begin to develop a solid plan to move your company toward near absolute regulatory compliance, efficiency improvements, standardized processes, & adequate documentation to ensure your 1099's contain accurate information that will agree with the IRS's records. You will all but eliminate your B-Notices from the IRS!
Areas Covered in the Session:
Who Will Benefit:
- Starter Question: What is TIN Matching?
- Applying for access to the TIN Match system - the required information will surprise you
- How to use the TIN Match system - Interactive and Bulk upload sessions and protocols
- How to register to use the system
- How the TIN Match system works
- Best practices for managing 1099 reporting requirements
- How to deal with vendors who report incorrect information on their W-4's
- B-Notices: upon receipt of a letter from the IRS stating I have incorrect names/TINS on my 1099's, what must I do and what about the deadlines?
- How to handle a Notice of Proposed Penalty
- Compliance Managers
- Accounting Managers
- Accounts Payable Managers
Miles Hutchinson is a CGMA and experienced businessman. He has been an auditor with PriceWaterhouseCoopers and the Chief Financial Officer of a $1 billion real estate development company. He is a highly sought after professional speaker and consultant who has presented over 1000 seminars and training sessions on a myriad of business and financial topics, such as financial analysis and modeling, accounting matters, strategic planning, and compliance with the Sarbanes-Oxley Act. His clients include, Abbott Labs, Citicorp, the FBI, GE, Pfizer, and the US Marine Corps.