Practical Guidance on IRS 1099 and 1042 Filings

Master Year-End Tax Reporting Without the Headaches
This 2-hour webinar gives you the practical tools and process insight needed to confidently manage IRS Form 1099 and 1042/1042-S reporting. You’ll learn how to strengthen your vendor master controls, avoid B-Notices, and ensure compliance for both U.S. and non-U.S. payees.

Key Learning Highlights

• Clarify Reportable Payments – Understand when payments belong on 1099-NEC, 1099-MISC, or 1042-S, and how to identify exceptions early.

• Collect and Validate Documentation – Learn the correct use of W-9 and W-8 forms, name/TIN matching, and the most common validation errors that trigger IRS notices.

• Vendor Master Compliance Controls – Discover how to embed tax reporting checks directly into vendor onboarding, change management, and payment release workflows.

• Prepare for E-Filing and Year-End Close – Create a clear, month-by-month timeline for data cleanup, e-file readiness, and coordination with tax filing providers.

• Avoid Penalties and Reduce Rework – Gain practical tips to mitigate B-Notices, prevent duplicate filings, and maintain a clean audit trail.

What You’ll Receive

• Step-by-step 1099 & 1042 Reporting Checklist

• Desktop Procedure Template to streamline year-end reporting tasks

After this webinar, you will be able to:

• Determine which payees and payments are reportable on 1099‑NEC/1099‑MISC vs. 1042‑S.

• Apply a simple decision path to decide when to collect W‑9 vs. W‑8 (BEN/BEN‑E and related forms) and how to validate them.

• Build a repeatable, auditable vendor‑data validation process (legal name, TIN, addresses, banking) aligned to year‑end reporting needs.

• Prepare AP and Vendor Maintenance timelines for year‑end (data cleanup, B‑Notice risk mitigation, distribution, and filing steps).

• Coordinate with tax/filing providers and IT for e‑file readiness and data integrity.

Navigating 1099 and 1042 Reporting Requirements

• Distinguish between Forms 1099-NEC, 1099-MISC, and 1042-S for domestic vs. foreign vendors.

• Identify reportable payments, exception categories, and how IRS definitions impact your AP workflow.

• Recognize when payments under treaties or exemptions still trigger reporting obligations.

2. Validating Vendor Documentation

• Proper collection and review of Form W-9 for U.S. vendors and Forms W-8BEN / W-8BEN-E / W-8ECI / W-8IMY for non-U.S. entities.

• Best practices for name/TIN matching, foreign TIN fields, and digital signature acceptance.

• Common documentation mistakes that lead to IRS notices and payment delays.

3. Strengthening Vendor Master File Controls

• How to integrate tax data checks into vendor onboarding, change requests, and supplier reactivation.

• Techniques to detect duplicate, inactive, or high-risk vendors before year-end.

• Aligning vendor records with IRS database formats for smoother e-filing.

4. Building a Practical Year-End Timeline

• Month-by-month checklist for reconciling vendor data, validating records, and scheduling test submissions.

• Key filing deadlines, extension procedures, and electronic filing requirements for 2025.

• Coordination between AP, Tax, and IT teams to ensure e-file integrity and readiness.

5. Avoiding Penalties and Managing Notices

• How to prevent B-Notices (CP2100/2100A) and respond effectively when they occur.

• Documentation retention requirements for Forms W-9 and W-8.

• Quick-response protocols for mismatched TINs and vendor disputes.

6. Integrating Compliance into Daily AP Operations

• Embedding compliance checks directly into the Procure-to-Pay cycle.

• Automating tax form collection and validation through vendor portals.

• Training and communication strategies that keep staff audit-ready all year.

Program Level of Understanding: Basic
Prerequisites: None
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Taxes
CPE Credits: 2, based on 50 minutes of instruction per hour

IRS information reporting has become one of the most scrutinized areas of Accounts Payable and Vendor Management. Errors in vendor setup, documentation, or payment classification can quickly result in B-Notices, penalty assessments, and rework that consumes valuable year-end resources.

This webinar provides a practical, process-oriented overview of IRS Forms 1099 and 1042/1042-S reporting. Participants will learn how to connect tax compliance directly to AP workflows — from vendor onboarding through payment and year-end reconciliation. The session focuses on real-world business processing, not just tax theory, and delivers step-by-step guidance to reduce errors, strengthen internal controls, and prepare clean data for filing.

The training explains how to correctly collect and validate Forms W-9 and W-8, determine which payments are reportable, and establish repeatable vendor-master controls that support compliance across domestic and international payees. Attendees will leave with actionable checklists, templates, and data-validation techniques to ensure accuracy, timeliness, and audit readiness in all aspects of year-end reporting.