IRS Information Reporting

Presented by:
Ken Golliher


Materials (only available to registered users)

For financial institutions, no compliance topic is more challenging or more dynamic than information reporting - they attempt to meet this challenge in an environment that changes every year. This program serves as an introduction for those who are new to the topic and provides a review and update for experienced personnel. It's a fast paced program that allows you to train several people for the cost of sending one person to a day long program.

This webinar outlines an effective taxpayer identification number program suitable for all financial institutions. It also gives practical advice on procedural issues related to this area. Each information return filed on vendors, borrowers and depositors is addressed with particular emphasis on recent changes. (The program does not cover reporting by fiduciaries or payors of investment interest.) Recent developments are highlighted throughout the program.

Program materials include:
  • IRS procedures for matching information returns to tax returns
  • Guidelines for ensuring proper titling of deposit, loan and vendor relationships
  • Creating a "reasonable cause" defense to IRS penalty assessments
  • Deposit related reporting (1099INT, 1099OID, 1099R, 5498)
  • Loan related reporting (1098, 1099A, 1099C, 1099S)
  • Vendor related reporting (1099MISC)
  • Backup Withholding
  • B Notices
  • C Notices
Recent Developments
  • SSA/IRS TIN verification program
  • Obtaining EINs via the Internet
  • Backup Withholding changes
  • Avoiding conflicts with CIP and IRS requirements on name/TIN combinations
Why:
  • Penalties for noncompliance are significant.
  • The manual is a great desktop reference.
  • The presenter is an excellent speaker with years of experience in this topic.
Manual:
The manual is a well written, comprehensive review of information reporting requirements for financial institutions. It is an excellent reference source on your return to the office and is the one the presenter uses in support of a full day seminar on this topic.

Who Should Attend:
Those who have responsibility for maintaining or auditing a financial institution's information reporting compliance program should register.

About the Speaker:  Ken Golliher
Ken Golliher is a principal with Pegasus Educational Services, LLC, a training firm headquartered in Louisville, Kentucky. He is an experienced banker with a unique ability to reduce complex legal concepts to plain English. He has explained the "why" and "how" of regulations to thousands of financial institution personnel and examiners. Ken's banking career began in 1972 and includes serving as a teller, commercial operations manager and as trust department legal counsel in a state and a national bank. For ten years he headed the education division of a regional consulting firm for financial institutions. He has served on the faculty of the LSU Graduate School of Banking, the OTS' Level I Compliance School and the FDIC's Advanced Consumer Protection School for examiners. Ken has also been an instructor at compliance schools sponsored by the banking associations in 10 different states. He is a Bankers Online Guru.

About the Seminar:
One registration is required per location. If the complete broadcast is received via the computer the AUDIO and VIDEO COMPONENTS can be connected to an A/V projector to allow multiple participants to view the conference. If the audio portion of the broadcast is received via the telephone the AUDIO portion can be placed on speaker phone to allow multiple participants. Interactive components delivered via Web include slides, online polls and interactive Q&A via chat.

Each registration also comes with one ARCHIVED viewing of the event. This will enable you to participate in the LIVE event as well as train additional staff from the ARCHIVED event.

Handouts will be provided and we welcome questions during and after the seminar, as well as in advance. Questions received after the seminar will be posted on a special Web page for later viewing by seminar attendees.

Contact Information: Billing questions can be directed to Carin Eisenhauer, carin@bankersonline.com. All other questions may be directed to mpetry@bankersonline.com

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