Tax Compliance for IRS B Notices and 1099 Penalty Notices 2022 | Institute of Finance & Management (IOFM) | 15 September 2022 | Webinar

It’s B-Notice season! The 2022 edition of this essential compliance training webinar provides updates on currently active IRS enforcement campaigns and current IRS administrative procedures for the B Notice and information return penalty programs. The basic procedures required by Regulations and Revenue Procedures will be explained for the stages of compliance:

• Initial vendor setup: Do your internal procedures for setting up vendors and other payees include all required steps for “TIN solicitation” – the process of obtaining tax identification numbers according to IRS rules including up to three attempts for reportable payees?
• Backup withholding: Do you backup withhold 24% federal income tax from certain payments when required by tax regulations?
• IRS Notice CP2100/2100A: Do you fully and timely carry out the required procedures when an IRS “B Notice” is issued to your organization?
• IRS Notice 972-CG: Are you prepared to respond to the IRS Notice of a monetary penalty assessment proposed against your organization for failures in backup withholding or Form 1099 filing compliance?

Learning Objectives:
• Solicit tax identification numbers from payees when and as required by tax regulations.
• Backup withhold from payments as required by tax regulations.
• Respond to IRS Notices in a timely manner according to regulations.

2022 Speaker

Marianne Couch
Principal, Cokala Tax Information Reporting Solutions, LLC