Form 1099-NEC, 1099-MISC and 1099-K Explained

OVERVIEW

Are you ready to master the ins and outs of Form 1099 for the 2024/2025 tax season? With frequent updates and complex tax rules, navigating the 1099 maze can feel daunting. Whether you're a tax professional or business owner, understanding the requirements and exceptions surrounding 1099 forms is essential to staying compliant.

This course will break down the latest updates on Form 1099-NEC, 1099-MISC, and 1099-K. You will gain clarity on the new IRS W-9 form, the $600 threshold for reporting, and how to determine if corporations should receive 1099s. Additionally, we will dive into contract labour payments, medical and legal fee reporting, and how different types of payments impact your 1099 filings.

WHY SHOULD YOU ATTEND?

As tax regulations continue to evolve, businesses and tax professionals must stay informed about the latest updates to Form 1099-NEC, 1099-MISC, and 1099-K to ensure accurate reporting and compliance with IRS requirements.

Join the session to ensure you’re up to date with the most crucial IRS updates for Form 1099-NEC, 1099-MISC, and 1099-K for the 2024/2025 tax season.

LEARNING OBJECTIVES

Discuss updates to Forms 1099-NEC, 1099-MISC, and 1099-K for 2024/2025.
Analyse the updated IRS W-9 guidelines to ensure accurate reporting compliance.
Identify payment types requiring 1099s, including contract labour, medical, and legal fees.
Discuss the $600 threshold for 1099-K filings and its implications.
Analyse strategies to minimize penalties and ensure timely, accurate 1099 filings.

AREAS COVERED

Major Topics:

New IRS Form Updates
Reporting Contract Labor Payments
1099-K Filing and Thresholds
Medical & Legal Reporting
Penalties and Compliance Strategies
Q&A

TOPIC BACKGROUND

As tax regulations evolve, businesses and tax professionals must stay updated on Form 1099-NEC, 1099-MISC, and 1099-K changes for accurate IRS compliance. The 2024-2025 updates impact independent contractors, gig workers, freelancers, and businesses making reportable payments.

A key change involves Form 1099-K, with a revised reporting threshold for third-party payment networks (e.g., PayPal, Venmo, Stripe). Additionally, Forms 1099-NEC and 1099-MISC have updated reporting requirements, deadlines, and penalties for misfiling.

Coming Soon

This webinar will be available soon. Please contact customer care for new schedule date.

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Jason Dinesen

Tax Expert

About speaker

Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert and a well-known presenter of continuing education courses. Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community.

Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics and much more. He has presented over dozens of webinars on Form 1099 (for 10 years on this subject!); marriage in the tax code; tax updates; the new Form W-4, payroll updates, filing status, tax credit and other issues relating to the modern-day household setting.

He also teaches 2 classes at Simpson College, Individual Income Tax and Business Analytics.
Jason always had a knack for radio shows and has and regularly features as an anchor for Radio Iowa.
Jason was born and raised in Iowa and has a degree in corporate communications from Simpson College in Indianola. He has a big family that includes his wife, two sons, 4 cats and 2 dogs. His other hobbies include being a season ticket holder to University of Iowa football.