Virtual Event
Virtual Event

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Event Date Mon Mar 15 EDT (over 1 year ago)
Region All

Financial institutions always can be assured of one thing: whether it is providing or receiving products or services, there’s likely going to be a tax consequence to it, and therefore will have to comply with a variety of requirements to report information to the IRS and its customers. Unfortunately, IRS rules and reporting responsibilities are complex, extensive, and overwhelming.

This webinar will present an overview of the IRS reporting system, including a discussion of the rules regarding payments made to U.S. and foreign persons, including customers and vendors, as well as the importance of backup withholding and the possibility of penalties.

Please note that separate webinars conducted at the end of the year will review the forms on which we are required to report, including the 1098, 1099s, and 1042-S.


• Importance of IRS Taxpayer Identification Numbers (TINs)
• Events that require a certified TIN and how to obtain (W-9)
• TIN Matching program
• Overview of the rules regarding foreign persons, including the W-8
• The basic IRS reporting requirements, a schedule for reporting, and corrections
• Backup-withholding and penalties