Form 1099 Reporting Updates

Thursday, October 21st, 2021 | 2 to 3 p.m. EDT

Field of Study: Taxes
Program Level: Intermediate
Delivery Method: Group Internet-Based
Prerequisite: None
Advanced Preparation: None
Successful completion of this program qualifies you to receive up to 1 CPE credits.

Kelli Wooten
Tax – Managing Director
KPMG, LLP

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Description

Are you ready for Form 1099 reporting season? Come learn the latest updates regarding the Form 1099-NEC and Form 1099-MISC. This session will discuss the following:

  • Form 1099 MISC and 1099-NEC reporting: What gets reported where
  • Managing state Form 1099 reporting obligations
  • Preparing for next year: Are you ready to document all payees with a valid Form W-9? A Green Book proposal being considered by Congress may require you to do just that.

Learning Objectives

  • Understand what is reported on Form 1099-NEC versus Form 1099-MISC.
  • Understand state reporting obligations with respect to Form 1099 reporting.
  • Understand key proposed regulatory changes in the information reporting and withholding space.

Speaker Biography

Kelli Wooten is a Managing Director in KPMG LLP’s Information Reporting and Withholding practice. Kelli advises both foreign and domestic clients on the Foreign Account Tax Compliance Act (“FATCA”) and the Common Reporting Standard (“CRS”) as well as assisting clients in the implementation of procedures for compliance with these regimes. Kelli also counsels both financial institutions and multi-national corporations on matters involving domestic and non-resident alien withholding and reporting issues. Prior to joining KPMG, Kelli was the Global Commercial Lead – Tax Services for CTI Tax Solutions of IHS Markit.

Kelli is a past member of the IRS Information Reporting Program Advisory Committee (“IRPAC”) where she chaired the International Reporting and Withholding (“IRW”) subgroup as well as a previous Vice Chair of the IRS Electronic Tax Administration Advisory
Committee (“ETAAC”).