course

The Basics of 1099's

150 Enrolled
0.5 Hours (On-Demand)
.5 CPE  

This course is a premium course it can be accessed either by individual purchase or through a premium subscription

Purchase this course | $18

Accounts Payable (AP) Specialists may not be involved in the annual 1099 reporting but they should understand the process:  it starts with a correctly completed and signed W-9 form.

This course covers the basics of form 1099, including identifying the Vendors that should receive a 1099, how to determine the amounts to be reported, the reasons why one may not be sent to an identified vendor, the reporting categories, and when and to whom 1099’s should be sent.

Although the task of sending 1099’s is only done once a year, there are steps that can be performed throughout the year to ensure accuracy of the final reporting.

This course also introduces form 1096 and covers the steps to be taken if a B Notice is received from the Internal Revenue Service (IRS).

Learning Objectives
  • Explore what 1099 forms are and which vendors they should be sent to.
  • Recognize the different types of 1099 forms.
  • Identify the amounts to be reported on a 1099.
  • Discover the importance of auditing the 1099 data.
  • Explore Internal Revenue Service (IRS) form 1096 and B Notice forms.
Last updated/reviewed: August 7, 2023

Included In Certifications

This course is included in the following Certification Programs:

13 CoursesAccounts Payable Certification

  1. Accounts Payable - Learn the Terminology
  2. Procure to Pay Work Stream
  3. A Deep Dive into the Responsibilities of Accounts Payable Operations
  4. Understanding Non-Purchase Order (PO) Invoice Transactions
  5. Understanding Purchase Order (PO) Invoice Transactions
  6. The Vendor Master – Creating A Solid Foundation for Accounts Payable Processing
  7. No PO, No Pay – Can It Work for Your Organization?
  8. Payment Process: Selection, Review, Approval, Release
  9. The Benefits of Reconciling Purchase Order Goods Receipts Not Yet Invoiced
  10. Strengthening Vendor Relationships - Steps That Can Be Taken by Accounts Payable
  11. The Basics of 1099's
  12. Creating an Accounts Payable Documentation Management Policy
  13. The Basics of Automation for Accounts Payable (AP) Specialists

16 CoursesAccounts Payable Management Certification

  1. Accounts Payable - Learn the Terminology
  2. A Deep Dive into the Responsibilities of Accounts Payable Operations
  3. The Vendor Master – Creating A Solid Foundation for Accounts Payable Processing
  4. The Basics of 1099's
  5. Prioritizing Accounts Payable Workload - Divide and Conquer
  6. Strengthening Vendor Relationships - Steps That Can Be Taken by Accounts Payable
  7. The Benefits of Reconciling Purchase Order Goods Receipts Not Yet Invoiced
  8. Reconciling Aged Open Payables and Outstanding Checks
  9. Benefits of An Accounts Payable Recovery Audit
  10. No PO, No Pay – Can It Work for Your Organization?
  11. What to Consider in an Accounts Payable Workflow Solution
  12. Creating an Accounts Payable Documentation Management Policy
  13. Communicating the Role of Accounts Payable to Others
  14. Justifying and Presenting the Needs of Accounts Payable Operations
  15. The Basics of Project Management for Accounts Payable
  16. KPIs and Metrics for Accounts Payable Manual Processes
23 Reviews (83 ratings)

Reviews

5
Anonymous Author
This is a good introductory course for 1099's. The course includes much useful information.

4
Anonymous Author
This is a great introductory course for anyone who is not familiar with the 1099 process. The slides were clear and enhanced the material. The summary of key takeaways was helpful. My only complaint was that the instructor sounded like they were reading from a piece of paper and talked very quickly.

4
Member's Profile
This is a good overview course about preparing and filing 1099 form. However, it is a bit confusing when some of the course material/slides downloaded from this course is different from those shown on the video or it is not updated.

5
Member's Profile
Very well put together lesson on the basic process of 1099's. Perfect timing, as I am training in the process this week. Looking forward to diving in head first with the knowledge I have gained here.

5
Anonymous Author
i learned a lot about 1099. I did not have any knowledge about 1099's i just knew like it was needed to send this form to a kind of "freelance" doing business with the company.

4
Anonymous Author
Wanted a bit more information of why when C and S crop are selected, they are not 1099 eligible, even if under the LLC option, C and S are selected the same rules apply.

3
Anonymous Author
This course will help you to understand the function of a 1099 and what information is involved when dealing with a vendor. Very informative and detailed.

4
Anonymous Author
Thank you Anne for the details regarding the 1099s, while this doesn't currently all under my responsibilities, it is nice to know some of the basics.

4
Anonymous Author
Very short concise overview of 1099 filing requirements and potential penalties for incorrect or incomplete filings.

5
Member's Profile
This class tells you exactly what you need to know about 1099's. I appreciated the 30 minute timeframe.

4
Anonymous Author
would have liked more information on best practices and how to respond to IRs; it was pretty short too

5
Anonymous Author
excellent short course for those not familiar with 1099 basics. well presented and engaging speaker.

5
Member's Profile
I enjoyed how the instructor broke down the 1099 process and some do's and don'ts on this process.

5
Anonymous Author
For all industry accountants who issue 1099s, I recommend a course like this before January!

4
Anonymous Author
Good information for the beginner. 1099's are a very important part of filing.

5
Anonymous Author
I Liked the details and functions of a 1099. I know now the meaning of a 1099.

5
Member's Profile
This course was right on time, good information that was easy to understand.

5
Anonymous Author
This is a very informative course for basic IRS forms AP specialist use.

4
Member's Profile
I did learn more about the 1099 and where to go if I have questions.

3
Anonymous Author
Accounts Payable Specialists will get the most of of this course

5
Anonymous Author
Brief and concise. I think this should benefit the tax team.

5
Anonymous Author
great and detailed descriptions for w9 and 1099 for ap

5
Member's Profile
everything was very detailed yet simple to understand

Prerequisites
Course Complexity: Intermediate
It is recommended to take the following courses prior to taking this one: "The Vendor Master – Creating a Solid Foundation for AP Processing" and "A deep Dive into Accounts Payable Operations".
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction – The Basics of 1099’s4:39
  Overview of Forms and Audit Considerations8:04
  Completing 1099-MISC Forms and Filing Requirements4:36
  Other 1099 Related Topics and Conclusion4:46
CONTINUOUS PLAY
  The Basics of 1099's22:05
SUPPORTING MATERIALS
  Slides: The Basics of 1099’sPDF
  The Basics of 1099’s Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam