FUSION 2012 - TAX AND REGULATORY SESSIONS
1099 Reporting: Finding an Automated Solution
Ken Saylor – Product Manager
Thomson Reuters
Presentation Style – Traditional PowerPoint
Taxes – 1.0 Credit
Basic # 2200 – Updated Session
Discipline of Focus: AP
Whether you are automating your 1099 process for the first time, upgrading to new technology, or considering an outsourcing solution, there are specific things to look for, and to look out for, when considering the various products and services currently available. In this session, we will cover some of the key decision points in making the correct determination of which solution or combination of solutions may be right for you. Our focus will be on the application of the latest technologies and their integration with various levels of outsourcing services.
Workshop discussion will include:
- Business requirements
- Compliance requirements
- 1099 reporting systems
- Managed services
- The complete solution
3 Big IRS Audit Targets in AP: What You Need to Show for Form 1099, Form 1042, and Worker Classification Compliance
Marianne Couch, JD – Principal
Cokala Tax Group
Presentation Style – Traditional PowerPoint
Auditing – 1.0 Credit
Basic # 2205 – Updated Session
Discipline of Focus: AP
How does the IRS uncover costly errors and omissions in your organization's handling of payments that should have been reported on tax information returns including Form 1099, Form 1042-S (for payments to foreign individuals and entities), and Form W-2 (for payments in AP that are actually employee compensation)? Well, they don't ask just for copies of the forms you filed; they want to see underlying documentation that will point to forms you should have filed but didn't.
This updated session will focus on:
- Payments mistakenly not flagged for 1099 reporting, or 1099 reported when they should have been on an employee's W-2, and how your process can help avoid these errors.
- Payments to foreign persons not properly documented, and how this is changing with the new FATCA tax law implementation.
- Payments from AP to workers who should have been paid as employees, and how the IRS is using the recent Voluntary Classification Settlement Program to step up enforcement in this area.
Abandoned and Unclaimed Property Emerging Issues NEW SESSION
Janet Gagliano - Partner
PricewaterhouseCoopers LLP
Heela Popal - Director
PricewaterhouseCoopers LLP
Presentation Style – Interactive Facilitated
Taxes – 1.0 Credit
Basic # 2310 – New Session
Discipline of Focus: AP
With states targeting companies both large and small in all industries for protracted unclaimed property audits, companies could experience a significant drain on internal resources and a negative impact to their bottom line as a result of an audit. The states see unclaimed property as a way to balance their state budgets through increased unclaimed property compliance efforts. It's a way for states to raise revenue without raising taxes. Teh interactive session include discussion of best practices in regards to risk management, compliance, and governance associated wtih unclaimed property. It will discuss common errors and how to avoid them, practiceal tips, and suggestions on how to manage teh risk from adversely affecting companys' financial health, and how to remediate and report to the different state unclaimed property jurisdictions. The interactive session will also provide participants tools that are available to assist in estimating potential unclaimed property exposure. Lastly, companies will need to understand and quantify their risk and any potential gaps in unclaimed property compliance and be prepared in the event of an unforeseen audit by the states.
A Beginner's Guide to Documenting and Reporting Foreign Vendors (Forms W-8 and 1042-S) UPDATED SESSION
Jill Dymtrow - VP, Consulting
Compliance Technologies International
Kelli Wooten - VP, Consulting
Compliance Technologies International
Presentation Style – Interactive Facilitated
Taxes – 1.0 Credit
Basic # 2210 – Updated Session
Discipline of Focus: AP
Are you making or planning to make payments to U.S. source income to foreign vendors? This session will bring you through the foreign vendor payment process from soup to nuts. We will start with onboarding a new foreign vendor and take you through making sure you've got the proper documentation, withholding the correct amounts, and reporting on Forms 1042-S and 10422. Section 1441 compliance is still an IRS tier 1 issue. Are you comfortable providing your Form 1042 to an auditor upon request?
The Effect of FATCA on Nonfinancial Companies UPDATED SESSION
Cyrus Daftary – Executive Director
Compliance Technologies International
Kelli Wooten – VP, Consulting
Compliance Technologies International
Presentation Style – Traditional PowerPoint
Taxes – 1.0 Credit
Basic # 2215 – New Session
Discipline of Focus: AP
FATCA is not just a "tweak" to the U.S. withholding tax rules but effectively a new regulatory regime. Ordinary course non-financial payments are excluded from FATCA's scope; however, that does not mean you will not see a variety of changes. Even more daunting, you must also consider how these changes will impact your U.S. domestic and NRA withholding and reporting. Come learn about the changes and how to remain compliant in an ever changing tax compliance environment.
Electronic Forms W-8
Cyrus Daftary – Executive Director
Compliance Technologies International
Co-Facilitator from IRS TBA
Presentation Style – Interactive Facilitated
Taxes – 1.0 Credit
Basic # 2220 – Updated Session
Discipline of Focus: AP
If you're collecting tax forms from a significant number of vendors, or if you have a tech-friendly vendor base, then electronic tax form collection is your answer. Avoid the process of manually validating paper forms and assigning withholding rates, and let technology do it for you. This session will cover the technical and procedural requirements for electronic W-8 forms, including the memorandum of understanding (MOU) process with the IRS, as well as the functional benefits to your vendors and your AP and tax staffs.
Form 1099-MISC Reporting: Federal and State Changes for 2012
Marianne Couch, JD – Principal
Cokala Tax Group
Presentation Style – Traditional PowerPoint
Taxes – 1.0 Credit
Basic # 2225 – New Session
Discipline of Focus: AP
This fact-packed session will review what's new in federal Form 1099-MISC tax reporting, and will also provide a review of the rapidly changing, but difficult to track down, state requirements for Form 1099-MISC filing. A discussion of the 2012 IRS 1099-MISC form will be included, along with changes in instructions or rules that affect what and how you report to the IRS. We'll also look at long-term objectives at the federal level that may lead to big changes in the Form 1099 filing process and due dates. In addition, we will report on federal legislative initiatives, including the question of whether we may again see a movement to make corporations generally subject to being reported.
Get it Right the First Time: Tax Identity Management
Raymond Grove - Product Manager
Convey Compliance Systems
Presentation Style – Traditional PowerPoint
Taxes – 1.0 Credit
Basic # 2230 – Updated Session
Discipline of Focus: AP
You think you know who you're paying, but do you really know? It's not enough to have a name and a tax identification number — you need to verify your information. Keeping complete and accurate TIN records is one of the most important keys to a successful information reporting program and a key way to eliminate IRS penalties. This session will go through strategies to help you stay on top of collecting and updating your name/TIN records efficiently. Good, clean data goes a long way toward mitigating compliance risk and avoiding headaches (not to mention B-Notices).
How to Keep Your Technology Compliant in a Fast-Paced Regulatory Environment
Raymond Grove - Product Manager
Convey Compliance Systems
Presentation Style – Traditional PowerPoint
Taxes – 1.0 Credit
Basic # 2235 – New Session
Discipline of Focus: AP TAWPI
Many organizations are finding themselves struggling to adapt their technology to the dynamic changes surrounding their tax information reporting obligations. At this session, you will learn how leveraging a software-as-a-service provider for your information reporting needs can remove the burden from your organization, ensuring compliant results every time.
Integrated Tax Reporting with Your ERP Solution CANCELLED
Jeff Cronin – Vice President
Convey Compliance Systems
Intermediate # 2240
An Intermediate Guide to Making Payments to Foreign Vendors NEW SESSION
Jill Dmytrow - VP, Consulting
Compliance Technologies International LLP
Kelli Wooten - VP, Consulting
Compliance Technologies International LLP
Presentation Style – Traditional PowerPoint
Taxes – 1.0 Credit
Intermediate # 2300 – Updated Session
Discipline of Focus: AP
Are you making, or planning to make payments of U.S. source income to foreign vendors? Learn about the grey areas in compliance such as form validation, application of persumption rules, and correcting mistakes. Spend a little time now, save a lot of time and money later!
Introduction to 1099 Reporting
Deb Bethel – Regional Manager
Convey Compliance Systems
Presentation Style – Traditional PowerPoint
Taxes – 1.0 Credit
Basic # 2245 – Updated Session
Discipline of Focus: AP
This session is designed especially for those new to 1099 reporting and compliance and will provide introductory information for those who prepare and those who supervise preparation of federal tax information reporting Form 1099. Whom should you issue a 1099 to and what are the rules? When do you need to mail? How should you submit — electronically or on paper? What are the rules for submitting to the IRS? How can real-time tax identification number look-up and bulk TIN-matching make your life easier? Find out the answers to these and all your 1099 questions in this informative session designed to cover all the basics and make you feel like a seasoned professional.
The IRS Audit - A Survivor's Guide NEW SESSION
Cyrus Daftary - Partner
Burt, Staples, & Maner LLP
Jill Dymtrow - VP, Consulting
Compliance Technologies International LLP
Kelli Wooten - VP, Consulting
Compliance Technologies International LLP
Presentation Style – Traditional PowerPoint
Taxes – 1.0 Credit
Basic # 2305 – Updated Session
Discipline of Focus: AP
Are you prepared to be audited on your 1042 withholding tax compliance? 1042 compliance is a Tier One Audit issue and the IRS is continuing to hire additional auditors for this complex area. Come and learn how to position your organization for success using a variety of tricks in our "toolbox" for audit success. Learn how to prepare for an audit, manage an audit, and minimize penalities and interest.
Making Accounts Payable Payments to International Contractors: Tax Withholding and Reporting Rules
Marianne Couch, JD – Principal
Cokala Tax Group
Presentation Style – Traditional PowerPoint
Taxes – 1.0 Credit
Basic # 2250 – New Session
Discipline of Focus: AP
These tax rules are strict — and they're becoming even more demanding with the addition of a new layer of documentation for compliance with FATCA, the Foreign Account Tax Compliance Act.
You will learn about:
- The withholding-at-source rules requiring 30 percent U.S. income tax withholding under Chapter 3 of the Internal Revenue Code.
- The new FATCA rules requiring 30 percent U.S. income tax withholding under Chapter 4 of the Internal Revenue Code.
- Identifying foreign contractors as part of a process, with new IRS forms for documentation of the payee's status for tax purposes.
- What's subject to withholding, and how "income sourcing" works.
- Substantiation of exemptions from withholding.
- The mechanics of IRS Forms 1042 and 1042-S, reporting your payments, and tax withholding for foreign contractors.
Payments to Foreign Individuals and Entities: Complying with IRS Requirements for Services, Rents, Royalties, and Interest
Paula Singer – Practice Leader
Thomson Reuters
Presentation Style – Traditional PowerPoint
Taxes – 1.0 Credit
Basic # 2255 – Updated Session
Discipline of Focus: AP
The IRS is turning a laser eye on Tier 1 withholding and reporting on payments to foreign nationals and entities. The session will focus on identifying and processing payments for services, rents, royalties, and interest to foreign vendors.
Participants will learn:
- How to identify foreign vendors including using the substantial presence test.
- How to treat effectively connected income (ECI) and fixed or determinable annual or periodic income (FDAP).
- What exemptions from withholding might be available.
- Collection, maintenance, and validation of withholding forms.
- Best practices for AP in making payments to foreign entities, including collection and validation for forms W-8BEN, W-8ECI, W-8IMY, W-8EXP, treaty analysis, and forms 1042/1042-S processing.
Learn how to collect and validate W-8 forms, perform the Substantial Presence Test (SPT), apply treaty benefits, and process the 1042/1042-S. The substantive tax information provided can improve the quality of overall reporting, withholding systems, and procedures.
Skit: How to Prepare for an IRS Audit
Todd Larsen - Senior Manager, Tax Financial Services
Ernst & Young, LLP
Debbie Pflieger, Principal
Ernst & Young, LLP
Troy Thibodeau – Executive Vice President
Convey Compliance Systems
Presentation Style – Traditional PowerPoint
Auditing – 1.0 Credit
Basic # 2260 – New Session
Discipline of Focus: AP
This unique session will provide you with a fun way to learn more about effective management of an IRS corporate audit, including typical issues that must be addressed.
Tax and Regulatory Issues on the Horizon for AP and AR in 2012
Diane Sears - Senior Editor
Institute of Financial Operations
Presentation Style – Panel Discussion
Taxes – 1.0 Credit
Basic # 2265 – Updated Session
Discipline of Focus: AP, AR
Sure, the expanded 1099 reporting and 3 percent withholding issues were repealed in Congress last year. But numerous other changes affecting financial operations are going into effect or will in the foreseeable future. Is your organization prepared? Let this session's panel of experts guide you through the maze of new tax laws for state, federal, and international business.
Tax Exemption Certificates, the Must Know
Phil Hodge – Founder
Imaging Science and Services Inc.
Presentation Style – Traditional PowerPoint
Taxes – 1.0 Credit
Basic # 2270 – Updated Session
Discipline of Focus: AP, AR
Adding the burden of collecting tax exemption forms can seem daunting. A proper program of corporate governance for managing the sales tax exemption process can ease the burden sales tax and exempt transactions pose in today's corporation. Such a program can reduce the workload and improve the productivity of everyone handling exempt transactions and related documentation while improving overall compliance. Furthermore, it can mitigate the risk and exposure of downstream sales tax audits and related assessments, interest, and penalties. Lastly, it will help ensure the overall process can deliver the transparency and management control necessary for competent oversight that will support regulatory scrutiny including Sarbanes-Oxley.
TIN-Matching Tips
Chris Doxey
Independent
Presentation Style – Interactive Facilitated Discussion
Taxes – 1.0 Credit
Intermediate # 2275 – New Session
Discipline of Focus: AP
This detailed session will provide helpful tips for establishing and using your e-Services account with the IRS. The attendees will learn how to use both the interactive and bulk upload matching services for verifying taxpayer identification numbers. The instructor will take away the mysteries of using TIN-matching services. We'll discuss how to read the results and take action that will reduce B-Notices. Session content will include:
- E-services account set-up
- Overview of the IRS TIN-matching process
- File conversion and examples
- Reading the reports
- Taking action
Unclaimed Property: This Ever-Changing Industry
Heather Steffans – Business Development Executive
StoneRiver Inc.
Presentation Style – Traditional PowerPoint
Taxes – 1.0 Credit
Overview # 2280 – Updated Session
Discipline of Focus: AP
No company can completely escape the statutory requirement of filing an annual unclaimed property report. While state budget constraints may result in the lowering of dormancy periods or requirement of additional data from companies, why not learn how to stay ahead of the game? With statistics showing as many as 25 percent of people moving each year, companies lose track of their employees and vendors, which often translates to an increased amount of unclaimed property on their financial records. The speaker will provide an introduction to unclaimed property, focusing on compliance and best practices to reduce risk and liabilities. Sarbanes-Oxley has brought unclaimed property reporting to the forefront for many organizations because risk reduction is paramount. This presentation will provide sample policies and procedures to help companies get started and point out some consequences of non-compliance.
Unclaimed Property Holder's Rights, Roles, and Responsibilities NEW SESSION
Owen Evans - Director
Ryan LLC
Michael Goldman - Manager
Ryan LLC
Robert Joseph - Manager
Ryan LLC
Presentation Style – Traditional PowerPoint
Taxes – 1.0 Credit
Basic # 2315 – New Session
Discipline of Focus: AP
All 50 states and 4 additional U.S. jurisdictions currently have Escheat or "Unclaimed Property" statutes on the books. What are your responsibilities as a holder of unclaimed property? What are your options for dealing with potential exposure? What are your rights should one or more states target your company for an unclaimed property audit?
Value Added Tax (VAT) – The Ever-Changing Legislation and How Planning and Recovery Can Impact Your Organization's Savings
Melissa Brod – Vice President
Meridian Global Services
Presentation Style – Traditional PowerPoint
Taxes – 1.0 Credit
Basic # 2285 – Updated Session
Discipline of Focus: AP
This breakout session will educate participants on the opportunities for 13th Directive Reclaim of VAT incurred by their organization as well as the need to understand the scope of spend that will attract VAT costs. Participants will understand the fundamentals of VAT legislation and the requirement to proactively plan their international contracts and activities in accordance with the legislative changes. This session will review the fundamentals of VAT as well as help identify areas of spend attracting VAT within an organization and proactive initiatives required to maximize recoveries.
What You Need to Know About State Reporting
Raymond Grove – Product Manager
Convey Compliance Systems
Presentation Style – Traditional PowerPoint
Taxes – 1.0 Credit
Intermediate # 2290 – Updated Session
Discipline of Focus: AP
Just like the federal government, states keep changing their information reporting rules, and you need to keep up. This session will take a closer look at the unique challenges associated with state reporting and withholding requirements, highlighting some of the special reporting requirements certain states dictate. You will learn how to become more efficient in managing state reporting, and where to find resources and tools to help you be successful.
Why Aren't You Using the IRS TIN-Matching System?
Jan Wallace – Director, Accounts Payable
Freeman
Sandy Champion
Independent
Presentation Style – Traditional PowerPoint
Taxes – 1.0 Credit
Basic # 2295 – Updated Session
Discipline of Focus: AP
This workshop will demonstrate the free IRS taxpayer identification number (TIN) matching program. Learn the benefits of this program and how use of it can make IRS Form 1099-MISC filing more accurate. Find out how TIN matching will result in fewer problem resolution efforts when B-Notices and related penalties are issued.
Discussion will include:
- Benefits of the TIN-matching program.
- How to register on the IRS website.
- Match indicator codes and how to read the results.
- How to handle discrepancies.
- How to develop a bulk TIN-matching file and submit.
Demonstration of the IRS TIN-matching system.