Surgent's A Complete Guide to Form 1099-K
Online
2.00 Credits
Member Price $99.00
Non-Member Price $134.00
Overview
The Internal Revenue Code (IRC) requires entities making certain types of payments, including business payments to contractors, to file information returns with the IRS. Information returns are intended to improve voluntary compliance with tax law by providing information about potentially taxable transactions to the IRS and taxpayers. A payment settlement entity (PSE) must file Form 1099-K for payments made in settlement of reportable payment transactions for each calendar year.
Objectives
- Understand the tax return treatment of the Form 1099-K, a form that millions of taxpayers will receive and/or send in 2025
Highlights
- What Form 1099-K is designed to do
- Filing thresholds for the Form 1099-K
- Who sends and who receives Form 1099-K
- Form 1099-K reporting thresholds
- Personal payments from family and friends
- Personal items sold at a gain or a loss
- Reporting provisions for gig workers, partnerships, and corporations
- Mistaken receipt of a Form 1099-K
- What to do when the Form 1099-K has a mistake
- Situations when the gross amount on a Form 1099-K must be shared
- How to handle the receipt of multiple Forms 1099-K
Designed For
Accounting and finance professionals who want to understand the reporting of various types of income on the Form 1099-K
Prerequisites
None
Preparation
None
Notice
To access this program, log into your CTCPA account at https://www.ctcpas.org/my-cpe/upcoming and click on the orange "Launch Event" button.
Leader(s):
Leader Bios
Michael Tucker, Surgent McCoy CPE, LLC
MICHAEL J. TUCKER, CPA, MBA, J.D., LL.M., Ph.D. Mike is an employee of Surgent McCoy CPE, LLC. He authors materials and scripts for the monthly Edward Jones sponsored All Star Tax programs. Mike also writes materials for and conducts almost daily webinars on a variety of tax related topics. Mike works in the offices of T. M. Byxbee Company, CPAs, Mike’s duties at T.M. Byxbee Co. involve advising individual and business clients on a wide variety of transactional matters. Mike was formerly a professor of accounting at Quinnipiac University, in Hamden, CT, where he taught graduate and undergraduate law and tax programs. Mike received his J.D. from New York University and his LL.M. from Georgetown University Law Center. He is a CPA and received his Ph.D. from the University of Houston.
Non-Member Price $134.00
Member Price $99.00