IRS Information Reporting: Rules and Forms

This is the description from our webinar that was presented in December 2017. Please check back for a modified description. Topics may be updated, but registration is now open.

It's that time of the year again - when thoughts turn to IRS reporting issues and the myriad rules to follow and forms to complete. Learn about the many forms financial institutions must report, with an emphasis on when and exactly what to report. We'll include easy-to-follow charts to complete each form.

Covered Topics

  • Taxpayer Identification Numbers - soliciting them, reporting issues, mismatches from the IRS and what to do (includes truncation options)
  • Backup withholding - "B" notices: what to do and when
  • 1099 reporting - its many and various forms, from interest and dividend income, abandoned and foreclosed property, IRA distributions, debt cancellation, and miscellaneous reporting
  • 1099-C Discharge of Debt rule
  • 1098s - what amount is reportable here? How about points? What is a qualifying mortgage?
  • IRA reporting - 5498s and the 1099-R
  • Timing requirements for the various forms
  • Penalties for noncompliance and failure to file
  • Changes in reporting requirements for tax year 2017
  • The Foreign Account Tax Compliance Act (FATCA) - what it is and what you have to do about it

Who Should Attend?

Anyone in your institution with responsibility for collecting tax information, filing various IRS forms, or someone who must be aware of TIN requirements. This may include senior management, operations personnel, and back-room personnel, plus compliance officers, auditors, and attorneys, and anyone else who might benefit from this valuable information.

"Carl is a wealth of knowledge in all things compliance and I would not have passed my CRCM exam if it wasn't for listening to many of his webinars along the way." -- Don Savino, SVP Risk Management, Pacific Western Bank


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