Audio Conferences

Form 1099: Payments to 3rd Parties, Including Attorneys

  May 20, 2008 at 02:00PM ET

Did you know that the name on a check will not, in many cases, determine to whom you should send the 1099?

Did you also know that you may have reporting obligations to persons whose names are not on the check or payment?

This situation arises frequently in legal damage settlement situations that often include payments to the claimant’s attorney, but can also arise in other instances.

Attend this audio conference and learn how to:

• determine who really gets the 1099
• issue two (or more) 1099s for a single payment
• determine which legal damages payments are reportable and which are not
• identify middlemen and agents, and determine who, under the IRS regulations, is responsible for issuing the 1099 when more than one payor is involved in the transaction

This audio conference will arm you with the tools you need to convince your organization, payors, and attorneys that you are required to report certain payments and, as such, need certain information, such as the payee’s legal name and taxpayer identification number. Learn how to explain that, without this necessary information, you will be required to backup withhold and deposit with the U.S. Treasury 28% of the payment in federal tax.

FEATURED FACULTY

Marianne Couch, Esq.
COKALA Tax Information Reporting Solutions, LLC

Marianne Couch, Esq., is an experienced advisor and author on U.S. federal and state tax information reporting compliance. She is a founding member of the COKALA Tax Group. She was formerly Executive Director of the National Association of Form 1099 Filers, Inc. and Director of Research for Balance Consulting, Inc. in Ann Arbor, MI. Prior to joining Balance Consulting, her professional experience was with a large regional law firm. Marianne formerly served as a member of the IRS Information Reporting Program Advisory Committee, and as Chair of the IRPAC Subcommittee on Small Business and Self-Employed (SBSE) tax issues. She is a frequent lecturer at nationwide professional conferences, and author of numerous articles on tax reporting law and procedure. She received her JD from the Michigan State University School of Law, cum laude, and is a member of the Michigan bar.

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