Calendar of Events

IRS Information Reporting: Rules and Forms

12/19/2017, 10:00 AM to Noon

No location provided

Amy Davis adavis@msbankers.com 601-948-6366

Description:

IRS Information Reporting: Rules and Forms


Presented by Carl Fry
Tuesday, December 19th, 2017
10:00 am - 12:00 pm CT
 

Covered Topics:

  • Taxpayer Identification Numbers - soliciting them, reporting issues, mismatches from the IRS and what to do (includes truncation options)
  • Backup withholding - "B" notices: what to do and when
  • 1099 reporting - its many and various forms, from interest and dividend income, abandoned and foreclosed property, IRA distributions, debt cancellation, and miscellaneous reporting
  • 1099-C Discharge of Debt rule
  • 1098s - what amount is reportable here? How about points? What is a qualifying mortgage?
  • IRA reporting - 5498s and the 1099-R
  • Timing requirements for the various forms
  • Penalties for noncompliance and failure to file
  • Changes in reporting requirements for tax year 2017
  • The Foreign Account Tax Compliance Act (FATCA) - what it is and what you have to do about it
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