Accounts Payable CD Library!

B-Notices: A Best Practice Approach

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Do you hear the rumble? The IRS is getting ready because that time of the year is fast approaching when those all-consuming awful B-Notices start to roll in. They are sent by the IRS when there’s a problem with the information you reported on a 1099; they must be addressed and in a very timely manner. If not, your organization could be out of pocket for the taxes the contractor should have paid as well as potential fines. In a worst case scenario, these fines can be as much as $250,000!

We are very pleased to welcome Cyrus Daftary and Jayne Alfano for 60-fast paced minutes as they explain:

o The steps to take in responding to a first B-Notice;
o Recommended steps when responding to the second B-Notice;
o The approximate timeframe for receiving B-Notices from the IRS;
o The two-in-three-years rule;
o The importance of documentation;
o Common errors likely to trigger a B-Notice;
o The cost of getting it wrong; and
o The IRS or SSA Form needed when working a second B-Notice.

Purchase the CD here.

About our Expert: Cyrus Daftary is a partner at Burt, Staples and Maner, LLP specializing in international taxation and regulatory compliance. Mr. Daftary has extensive experience with the United States withholding and reporting rules for U.S. and non-U.S. persons, as well as the U.S. Patriot Act and various anti-money laundering regimes, the European Savings Directive, and e-commerce issues. A popular speaker and writer, Mr. Daftary is a co-author of the E-Business Legal Handbook, and has taught courses on cyber-law, Internet taxation, and e-commerce at Suffolk University School of Law, Northeastern University’s Master of Taxation program and Suffolk University’s Frank Sawyer School of Business.

Purchase the CD here.