Effectively Handling CP 2100 Letter and B Notices
Speaker: Jason Dinesen
Speaker Designation: Tax Expert
Speaker: Jason Dinesen
Speaker Designation: Tax Expert
Effectively handling CP-2100 letters and sending out B Notices helps a business stay in compliance and avoid penalties. CP-2100 letters come to your business from the IRS. These letters notify you that the social security number you put on a 1099 doesn’t match what’s in the IRS’s system. For example, the social security number of a contractor. When your business receives such a letter, you must take action by sending a “B Notice” to the other party.
This webinar will discuss how you can take steps to avoid CP-2100 letters to begin with, through the IRS’s “TIN Matching” program and proper usage of the Form W-9. We’ll cover more about B Notices in this program, and cover backup withholding.
CP-2100 letters can be a hassle for any business that issues 1099s. Attend the webinar to learn how to respond to CP-2100 letters, and how to possibly avoid them in the first place.
As time allows, we will also delve into employee vs. contractor — is that “contractor” really an employee?
A CP 2100 letter alerts a payer that one or more taxpayer identification numbers (TINs) reported do not match IRS records. It includes a list of mismatched records and instructions for correcting them.
A B Notice is a follow-up to the CP 2100 letter, requiring the payer to take specific actions with the payees to correct or verify the TINs. There are two types of B Notices, each with different requirements for addressing the mismatches.
By proactively managing TIN data and promptly addressing CP 2100 letters and B Notices, businesses can mitigate risks, avoid penalties, and maintain compliance with IRS regulations.
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.
