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Yammer
IRS Tax Reporting 10/25/18
WHAT YOU WILL LEARN
• Rules for filing Form 1099 corrections if dollar amount is less than $100 or $25 if withholding, but customer can “elect” we file corrections.
• FTINs and Forms W-8BEN for foreign individuals and Form W-8BEN-E for entities require foreign taxpayer identification numbers.
• New boxes on Form 1098 mortgage interest. Is capitalized interest reportable?
• Reporting for loan modifications and foreclosures on Forms 1099-A & C including reporting identifiable events for discharges of indebtedness.
• IRS Penalty Program – penalties have increased to $250 per form and are indexed for inflation.
• IRS audits and how to respond to IRS penalties on Notice 972CG.
• Requirements for (substitute) Form W-9 and signature cards.
• Reporting bank deposit interest for (NRA) foreign customers on Form 1042-S.
• Form 1099-MISC middleman reporting including payments to attorneys and construction loan disbursements.
Backup withholding including processing B and C Notices.
PRESENTER:
Cheryl Riedlinger is an attorney with The Tax Reporting Group concentrating in the taxation of financial institutions. She works with trade associations, as a tax expert witness, and as counsel to financial institutions and corporations providing them with technical and planning assistance. Her background encompasses hands-on banking experience with all aspects of the tax reporting process. Formerly a bank tax counsel, Ms. Riedlinger provided tax planning assistance, including information reporting issues to the bank, nonbank subsidiaries, and bank holding company. She received her B.A. in economics from Wilfrid Laurier University and her J.D. from Wake Forest University School of Law.
Ms. Riedlinger is a frequent speaker and author of numerous articles on information reporting and withholding issues published in The Independent Banker, Bank Personnel News, Journal of Bank Taxation, Bank Compliance Magazine, Journal of International Banking Law, Trust & Investments, Bank Marketing, and various other trade association publications. She also authors the Information Reporting Bulletin, Fast Facts, and A Guide to IRS Information Reporting for Financial Institutions, a complete guide to the IRS Information Returns Program. She is an alumni member of the IRS Information Reporting Program Advisory Committee (IRPAC) representing financial
institutions.
When
10/25/2018 9:00 AM - 4:00 PM
Where
MBA Education Center 507 S. Grand Ave Lansing 48933 UNITED STATES
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