Webcast: Surgent's A Complete Guide to Form 1099-K
2.0 Credits
Member Price $75.00
Non-Member Price $100.00
Overview
The Internal Revenue Code (IRC) requires entities making certain types of payments, including business payments to contractors, to file information returns with the IRS. Information returns are intended to improve voluntary compliance with tax law by providing information about potentially taxable transactions to the IRS and taxpayers. A payment settlement entity (PSE) must file Form 1099-K for payments made in settlement of reportable payment transactions for each calendar year.
Highlights
- What Form 1099-K is designed to do
- Filing thresholds for the Form 1099-K
- Who sends and who receives Form 1099-K
- Form 1099-K reporting thresholds
- Personal payments from family and friends
- Personal items sold at a gain or a loss
- Reporting provisions for gig workers, partnerships, and corporations
- Mistaken receipt of a Form 1099-K
- What to do when the Form 1099-K has a mistake
- Situations when the gross amount on a Form 1099-K must be shared
- How to handle the receipt of multiple Forms 1099-K
Prerequisites
None
Designed For
Accounting and finance professionals who want to understand the reporting of various types of income on the Form 1099-K
Objectives
- Understand the tax return treatment of the Form 1099-K, a form that millions of taxpayers will receive and/or send in 2025
Leader(s):
Leader Bios
Mike J. Tucker, PhD, LLM, JD, Surgent McCoy CPE, LLC
Mike Tucker is a consultant for the accounting firm of T.M. Byxbee Co. in Hamden, CT. He is the author of many professional articles and a veteran TV and live-seminar presenter. He was a professor at Quinnipiac University in Hamden, CT and worked with KPMG Peat Marwick and Deloitte & Touche.
Non-Member Price $100.00
Member Price $75.00