In 2020, Form 1099-NEC replaced Form 1099-MISC for Reporting Nonemployee Compensation. Both forms are now required for many businesses and organizations. If you are looking for 1099 training for 2020 and later years, please check out our Form 1099-NEC and Form 1099-MISC Training Course.
Once purchased, you own the course and can use it over and over again to train employees and clients! Best of all, our Form 1099-MISC Training Course dovetails with our Employee vs. Independent Contractor Training Course, making them a perfect pair for comprehensive instruction.
Why is Form 1099-MISC Training Important? The US Treasury Department believes (rightly so) that the most significant cause of unpaid tax in the United States is small businesses and organizations failing to file required Form 1099-MISC. To combat this noncompliance epidemic, the IRS added two Perjury-Trap / Intentional Disregard 1099 questions to all business returns in 2011.
Then, in 2015, congress drastically increased the penalties for not filing Form 1099-MISC when required (and adjusted them for inflation). The penalty for not filing a single 1099-MISC is now $260+. The penalty for intentionally disregarding Form 1099 filing requirements is $530+ for each 1099.
Making matters worse is the fact that these penalties can be assessed separately to 1) Failing to file Copy A of Form 1099-MISC with the IRS, and 2) Failing to provide Copy B of Form 1099-MISC to the recipient, effectively doubling the penalty for each 1099!
More than a handful of unfiled 1099s can force a business or organization to close its doors forever. Those who are responsible may lose their jobs or face accusations of negligence.
Why Overnight Accountant 1099-MISC Training? Our Form 1099-MISC Training Course is designed to help your business, organization, or clients remain in compliance and avoid penalties. You own the course and can use it over and over to train employees. The course includes a Workbook and Answer Guide, a Certification Test and Answer Guide, and even a Frame-Worthy Certificate for students who satisfactorily complete the training.
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If your employees, clients, HR, or payable department need comprehensive training on Employees and Contractors as well the consequences and defenses of misclassification, please check out our Employee vs. Contractor Training Course.
All courses and articles are for informational purposes only and do not constitute tax advice. Taxes are complicated - do not act on course information without consulting a professional. Always refer to treasury regulation before making any tax decision. Read the full disclaimer.
I really appreciate you doing the class. It was quite helpful.- Debbie Y, Greensboro, NC, 1099-NEC & 1099-MISC Training Course Course
This course package is thorough and will give you a solid handle on how to optimize your business expenses to minimize your taxes and keep appropriate records to handle any IRS challenges. Only want to dive into a particular topic? Jump to that video and scan forward to where your issue is addressed. Or watch the whole series to learn it all!- Josh, Charles Town, WV, Real Estate Agent Tax-Cut Library, Agent Edition Course
The 1120-H course is the second course that I’ve taken and both classes have been very informative and helpful. The courses have been easy to follow along with and if I have a question they are quick to get back to me and help me understand the issue. I would highly recommend OvernightAccountant classes.- George, York, PA, 1120-H Basics Course
The course was excruciatingly detailed, which I appreciate. I definitely recommend this course to anyone who even thinks they may need it.- Greg, Brookfield, IL, 1099-MISC Basics (Training Edition) Course
I haven’t practiced in the accounting field in quite some time and wanted a refresher. The Overnight Account course 1099-Misc Basics was very helpful! It was simple to follow along and understand each section. I would highly recommend this course! Staff were quick to answer my question as well. I love that I can review the modules again, if needed, at any time. I will definitely be using them again for more classes.- Tammy, Anchorage, AK, 1099-MISC Basics Course
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