Financial institutions are required to report many types of 1099 forms to the IRS each year. Does your credit union know when and how to file each type of 1099? For example, Form 1099-A must be filed when you foreclose on collateral. You must file Form 1099-MISC if your credit union awards a prize worth $600 or more. Form 1099-INT must be filed when you give $10 to a member to open a new account. Join us to learn the proper use of the forms listed below, when they must be filed, and review the new version of each form for the 2013 tax year.
- What to report, when to file, and penalties for not filing properly
- 1099-A: Acquisition or Abandonment of Secured Property
- 1099-C: Cancellation of Debt
- 1099-INT: Interest Income
- 1099-MISC: Miscellaneous Income
- TAKE-AWAY TOOLKIT
- Copies of the 2013 IRS Instructions for Forms 1099-A, 1099-C, 1099-INT, and 1099-MISC
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
Attendance verification for CE credits provided upon request.
Who Should Attend?
This informative session will be useful for all operations personnel, accounting clerks, tax personnel, accountants, management, compliance officers, and attorneys.
ABOUT THE PRESENTER – Elizabeth Fast, JD, CPA, Spencer Fane Britt & Browne, LLP
Elizabeth Fast is a partner with Spencer Fane Britt & Browne LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.
|Over $75 million
|$25 - 75 million
|Under $25 million
Scholarships are available for all KCUA education events. Scholarships pay 100% of registration fee for credit unions under $25M, 50% for credit unions between $25-$75M and 25% for credit unions over $75M.