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1099-MISC Payee Certification Workshop Presented by The Accounts Payable Network(December 06, 2011)
ATLANTA, GA -- (Marketwire) -- 12/06/11 -- 1099-MISC filing is an intricate and involved process, and based on penalties increased last year, misfiling is even more costly. In light of recent changes to 1099 reporting, The Accounts Payable Network is proud to announce an interactive Payee Certification Workshop. This workshop is designed to educate accounts payable professionals on the ins and outs of federal reporting, compliance and correctly identifying payees.
The most recent trend in accounts payable is the transformation of the paper shuffler to the spend analyst who has a positive impact on the bottom line. With fines and penalties increasing almost every year and rules changing constantly, filing 1099-MISC correctly is more important than ever. It is essential that today's accounts payable professional be provided the most up-to-date information possible in order to avoid unnecessary expenses that might reduce profit.
Not only should accounts payable pay the proper entity the proper amount at the proper time, it must also correctly report each payment. Flawless 1099-MISC federal reporting requires identifying a payee, which involves obtaining the proper tax ID, legal name and status. Failure to do so places a payer in the position of being required to withhold federal tax -- and possibly state withholding tax -- from each payment. This, in turn, might jeopardize relationships with vendors.
To avoid improper 1099-MISC filing, steep penalties and to ensure that establishing a vendor relationship or an account is successful, plan to attend this information-packed workshop. The presenters will also touch upon action plans for after the second B-notice is received. This online workshop will take place on Wednesday, December 14, 2011 at 2 p.m. EST. To learn more, please visit http://www.tapn.com/PayeeCertification.
About The Accounts Payable Network
The Accounts Payable Network (TAPN) is the leading accounts payable resource, serving more than 55,000 finance and accounting professionals with deep and comprehensive resource centers to help them meet today's AP challenges. As the premier resource for executives and managers who oversee accounts payable, TAPN provides access to exclusive accounts payable knowledge bases and toolsets to help drive down costs, increase productivity, reduce risk, avoid compliance-related penalties and maintain necessary internal controls.
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