How to Process an IRS B-Notice (Completed)
Date: Tuesday, September 7, 2021
Instructor: Steven D. Mercatante
| Begin Time: |
9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
|
IRS backup withholding and B-Notice rules continue to cause confusion and lead to audit. This course will provide CPA’s, Accounts Payable, Payroll, and Tax professionals with plain English guidance to help minimize mistakes in processing IRS backup withholding, TIN verification, and B-Notice response situations.
In this program industry expert and corporate tax attorney Steven D. Mercatante Esq. takes a look some of the more difficult problems experienced by CPA’s and accounts payable and tax departments while identifying key issues and best-practices for addressing them.
Topics Covered
- IRS B-Notice response procedures and learn the best approach to handling these unique situations
- TIN validation best practices with a focus on avoiding backup withholding where possible
- Backup withholding tips that can make doing your job easier, including a detailed discussion of the Form 1099-MISC and 1099-NEC's Box 4 versus usage of Form 945
- Tips for avoiding painful mistakes when handling negative IRS interactions
- How the IRS B-Notice processing rules work — including the difference between a first and second B-Notice and when you need to review your own records in lieu of contacting your payee
Learning Objectives
- Identify how due diligence requirements involving backup withholding and B-Notice processing and how they work together
- Recognize if your department has not updated its B-Notice processing procedures in some time
- Describe B-Notice Processing steps and rules
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
