There are a wide variety of 1099 forms. Does your institution know when and how to file each type? What documentation is needed? What kind of data is required to complete each one? Join this line-by-line review of Forms 1099-A, 1099-C, and 1099-MISC to make this year’s reporting a breeze. Financial institutions are required to report many different types of transactions on IRS Form 1099. For example, Form 1099-A must be filed when your institution forecloses on collateral (but there are many exceptions you need to know). Form 1099-C must be filed when a debt is cancelled (these rules can apply even though the debt hasn’t been forgiven). Form 1099-MISC must be filed when your institution pays a third-party vendor (but there are exceptions if the vendor is a specific legal entity). In this webinar, you will learn how, when, and what to report on Forms 1099-A, 1099-C, and 1099-MISC – including a line-by-line review of each.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Properly complete:
- Form 1099-A, Acquisition or Abandonment of Secured Property
- Form 1099-C, Cancellation of Debt
- Form 1099-MISC, Miscellaneous Information
- Know when Form 1099-A must be filed when repossessing or foreclosing on collateral and understand the exclusions
- Distinguish what constitutes cancellation of debt for purposes of Form 1099-C
- Understand when Form 1099-MISC must be filed for vendor payments, and which are exempt
- Explain the rules for reporting miscellaneous types of income under Form 1099-MISC
TAKE-AWAY TOOLKIT
- IRS General Instructions for Certain Information Returns
- IRS-specific instructions for Forms 1099-A, 1099-C, and 1099-MISC
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
WHO SHOULD ATTEND?
This informative session will be useful for all deposit operations personnel, loan operations personnel, accounting clerks, tax personnel, accountants, managers, compliance officers, auditors, and attorneys.
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.
MEET THE PRESENTER
Elizabeth Fast, JD, CPA, Spencer Fane LLP
Elizabeth Fast is a partner with Spencer Fane LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions.
THREE REGISTRATION OPTIONS – WHAT YOU GET
1. LIVE WEBINAR
- Unlimited live connections with shareable access within your institution
- Available to view on desktop, mobile & tablet devices
- Take-away toolkit
- Live Q&A session & the presenter's contact info for follow-up questions
- Access the webinar training from your User Portal
2. ON-DEMAND WEBINAR
- Unlimited and shareable access to the recording within your institution,
starting two business days after the live date
- Available to view 24/7 on desktop, mobile & tablet devices
- Take-away toolkit
- Ability to download the webinar video and toolkit items
- Presenter's contact info for follow-up questions
- Access the webinar training from your User Portal
3. BUNDLE & SAVE
- Save when you Bundle the Live + On-Demand Webinar Registration
- Includes all the items listed above
- Full registration descriptions can be found here