Due Diligence Steps For Form 1099

Want to avoid IRS penalties for mistakes on Form 1099? Yes, make sure staff has exercised due diligence. Due Diligence involves a written Plan, training staff, and monitoring staff to determine if they have followed the plan. The Plan for accurate Forms 1099 is the development of procedures for an accurate Form W-9. Most mistakes that the IRS identifies on the Form 1099, originates in failure to follow W-9 procedures. IRS penalties not only cost money but also take up valuable time which translates to money.

• Most common Form 1099 mistakes, development of best practices manual, A Plan
• Contents of best practices manual
• Duties of your W-9 expert
• W-9 compliance steps
• Identifying types of payments requiring a Form 1099
• Identifying types of companies requiring a Form 1099
• Maintaining records to prove due diligence was exercised

• Due Diligence best practices steps
• Most common mismatch problems
• How is a name/TIN mismatch identified
• Use of IRS e-services to avoid mismatches
• Review of W-9 solicitation requirements
• Step by step review of Forms W-9
• 2016 penalty increases against form 1099 preparer
• Resources for W-9 and 1099 compliance

This course is designed to develop a plan and train and monitor staff to achieve due diligence.

• CPA, Attorney, EA Firms and Staff
• Firm Accounts Payable Management or Staff
• Owners, Shareholders of Small Businesses and Staff
• Corporate Controllers, Accounts Payable, Financial Managers & Staff
• Non-profit Controllers, Accounts Payable, Staff

Margie Faulk is a senior level human resources professional with over 15 years of HR management and compliance experience. A current Compliance Advisor for HR Compliance Solutions, LLC, Margie, has worked as an HR Compliance advisor for major corporations and small businesses in the small, large, private, public and Non-profit sectors.  Margie has provided small to large businesses with risk management strategies that protect companies and reduces potential workplace fines and penalties from violation of employment regulations. Margie is bilingual (Spanish) fluent and Bi-cultural.

Margie’s area of expertise includes Criminal Background Screening Policies and auditing, I-9 document correction and storage compliance, Immigration compliance, employee handbook development, policy development, sexual harassment investigations/certified training, SOX regulations, payroll compliance, compliance consulting, monitoring US-based federal, state and local regulations, employee relations issues, internal investigations, HR management, compliance consulting, internal/external audits, and performance management.

Margie is a speaker and accomplished trainer and has created and presented compliance seminars/webinars for over 16 US and International compliance institutes. Margie has testified as a compliance subject matter expert (SME) for several regulatory agencies and against regulatory agencies, thank goodness not on the same day. Margie offers compliance training to HR professionals, business owners, and leadership to ensure compliance with workplace and regulations.

Margie’s unique training philosophy includes providing free customized tools for all attendees. These tools are customized and have been proven to be part an effective risk management strategy. Some of the customized tools include the I-9 Self Audit. Correction and Storage program, Ban the Box Decision Matrix Policy that Employers can provide in a dispute for allegations, Family Medical Leave Act (FMLA) Compliance Guide, Drug-Free Workplace Volatile Termination E-Book and other compliance program tools when attendees register and attend Margie’s trainings.

Margie holds professional human resources certification (PHR) from the HR Certification Institution (HRCI) and SHRM-CP certification from the Society for Human Resources Management. Margie is a member of the Society of Corporate Compliance & Ethics (SCCE).