Live online class featuring primary focus on Forms 1099-NEC and 1099-MISC and the statutory and regulatory changes for 2023 requiring most organizations to file their 1099s to the IRS electronically. Class covers use of IRS Form W-9, federal backup withholding of 24% on certain payments, furnishing Form 1099 statements to payees, IRS electronic filing methods, Form 945 annual return required when tax has been withheld, how to process and respond to IRS Notices CP2100 and 972CG. Learning objectives: Identify payments which must be reported to the IRS; identify the reportable payee including when paying sole proprietors, LLCs or agents; identify payments which require backup withholding and what to do with the 24% you withheld.