Event Calendar

Tuesday, November 8, 2022

Webinar - Form 1099 Reporting: Third-Party Vendors, Foreclosures, Debt Forgiveness & More

Start Date: 11/8/2022 9:00 AM MST
End Date: 11/8/2022 10:30 AM MST

United States 

Financial institutions are required to report many different types of transactions on an IRS Form 1099.  Does your institution know when and how to file each type of Form 1099?  For example, Form 1099-A must be filed when your institution forecloses on collateral (but there are many exceptions that you need to know), and Form 1099-C must be filed when your institution cancels a debt (and these rules can apply even though your institution hasn’t actually forgiven the debt).  Form 1099-MISC must be filed when your institution pays a third-party vendor (but there are exceptions if the vendor is a certain type of legal entity).  Also, Form 1099-MISC must be filed if your institution awards a prize worth $600 or more, but Form 1099-INT must be filed if the prize is worth $10 or more and related to a deposit account.  In this webinar, you will learn how, when, and what to report on Forms 1099-A, 1099-C, 1099-INT and 1099-MISC.  In addition, we will review each of these forms line by line.


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