Steps to Take Now for Form 1099 and 1042-S Tax Compliance

Current issues of highest impact on your tax information reporting compliance will be covered in this new and timely presentation, including:

• Mandatory electronic filing to the IRS: Learn what each of the three IRS efiling systems offers, how you can choose one or a combination of systems, and what’s required to register to transmit tax information returns to the IRS.
• Filing due date compliance: Review the upcoming due dates for filing 1099, 1042-S and 1042 returns to the IRS, plus the three procedures available for obtaining an extension of time to file (paper form, electronic fill-in form, or within the IRS efiling system you have selected).
• Penalty increases: Monetary penalties assessable against your organization for errors in the 1099s and 1042-S forms you file, and for late filing, have increased every year over the last several years.  Learn the penalty amounts applicable to what you’re filing and preparing to file for 2024, and the amount applicable to returns reporting 2025 information. 
• The Form 1042 challenge: Learn the most recent IRS information about the mandate to file Form 1042 electronically – a serious challenge because it can’t be done in the FIRE or IRIS systems used for 1099s and Form 1042-S.
• Recent changes: Updates on recently issued IRS guidance or form instructions, including Form 1099-K filing for 2024, foreign payee claims of treaty benefits, and other changes already announced which will affect the 2025 information returns you’ll be preparing to file a year from now.

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.

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