IRS B Notice and Penalty Notice Required Actions and Best Practices

This presentation on essential tax compliance will show you the regulatory requirements and best practices for protecting your organization against 24% federal tax liability assessments. 

What you learn in this program will better equip you to handle important Notices when the IRS issues them to your organization, including recommended procedures at three stages of compliance:

• Initial vendor setup – actions or omissions which can “make or break” your organization’s compliance 
• IRS Notice CP2100 – the specific actions you’re required to take within strict time limits when this IRS “B Notice” is issued to your organization 
• IRS Notice 972CG -- how a fact-based, documented and timely response to this IRS penalty notice can prevent assessment of the proposed penalty amount. 

This program will also cover researching whether a tax ID number matches your 1099 reportable payee’s name; the regulatory requirements to backup withhold federal income tax from certain payments; the federal tax deposit schedule for withheld amounts; and what the tax regulations identify as reasonable cause for relief from the proposed tax penalties.  

Learning Objectives:

• Solicit tax identification numbers from payees as required by tax regulations
• Apply backup withholding to certain payments as required by tax regulations 
• Implement payee and IRS correspondence and recordkeeping for regulatory compliance and defense against information return penalty assessments.

Featured speaker:

Marianne Couch, JD - Principal, Cokala Tax Information Reporting Solutions, LLC

Marianne Couch, JD, a Principal in the Cokala Tax Group, is an advisor on U.S. federal information reporting compliance.  She is a frequent lecturer at major tax conferences and the author of numerous published articles. She served for many years as Research Director of an information reporting and withholding consultancy where she chaired special training and advisory services provided to large organizations and academic and nonprofit institutions. She was previously a member of the IRS Information Reporting Program Advisory Committee (IRPAC), where she served as Chair of the IRPAC Subcommittee on Small Business and Self-Employed (SBSE) tax issues.  In this capacity, she testified annually before the IRS Commissioner on issues of concern to the information reporting community.  Marianne has previously worked as a litigator for a large Michigan law firm, where she represented individuals and large clients in many types of civil actions, and formerly served as a Research Attorney for the Michigan Court of Appeals.

Continuing education credits available!

 Continuing Education for IOFM Certification

Receive 2 CEUs toward maintaining a certification with IOFM! IOFM's premier certification programs are designed to establish standards for the industry and recognize financial operations professionals who, by possessing related work experience and passing a comprehensive exam, have met stringent requirements for mastering the body of knowledge in their profession. Additional rules may apply, depending on your certification. See full guidelines here. 

 Continuing Professional Education for NASBA

Receive 1.5 CPEs towards a CPA license with NASBA. IOFM, A Diversified Business Communications Company, is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors (Sponsor number: 112048) State Boards of Accountancy have the final authority on the acceptance of individual course for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For more information about our NASBA CPE Policies, visit IOFM.com/nasba-cpe.

Accessibility Information:

IOFM is committed to accessibility. Disability-related accommodation requests for the live event (such as providing live captioning) should be sent to [email protected] by close of business the day before the live webinar. A captioned recording of this webinar can be made available upon request to [email protected].

Cancellation policy:

To cancel your registration for this event, simply contact IOFM customer service at [email protected] (or call 207-842-5557) no later than 24 hours prior to the scheduled start of the event. You can choose to access the full recorded event, or, your credit may be applied toward the purchase of any IOFM product or interactive event. If for any reason you are not completely satisfied with this program, we will provide a full refund — no questions asked!

For more information:

Contact Customer Service:

Phone: (207) 842-5557

Email: [email protected]