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November 3, 2021
2021-2004

Wednesday, November 17 | 2021 Forms 1099 and 1042-S: the new Forms W-8 and what filers need to know this reporting season (1 pm ET)

Reporting season for Forms 945/1099 and 1042/1042-S is once again upon us. The IRS has issued new Forms W-8, and pending legislation may bring significant changes in the near future. Successful filings require putting dollars, codes and other information into the proper IRS format; that process changes each year and is not always straightforward. What are this year’s newest challenges? What should a filer think about so their information is complete and correct before filing? Join Ernst & Young LLP professionals for answers to these questions and a practical discussion of how to manage filing information returns for 2021.

Year-end reporting is the culmination of a company’s daily information reporting and tax withholding compliance programs - it also provides an opportunity to highlight challenges and improve current process, procedures and systems. With the IRS incorporating new technology using data analytics to analyze information returns and improve their ability to identify errors, accurate reporting is more important than ever.

The following topics will be discussed:

  • New Forms W-8
  • Withholding on sales of publicly traded partnership interests
  • Pending legislation and reporting for cryptocurrency transactions
  • Data analytics
  • Other new 2021 information reporting and withholding developments
  • Significant upcoming changes in Form 1099-K reporting for 2022
  • Sample scenarios addressing best practices and common errors

Date: Wednesday, 17 November 2021

Time: 1:00–2:30 p.m. EST New York; 10:00–11:30 a.m. PST Los Angeles

Registration: View archive here.

Panelists

  • Tara Ferris, Principal, Financial Services Organization, Tax, Ernst & Young LLP

  • David Jensen, Principal, Financial Services Organization, Tax, Ernst & Young LLP

  • Jonathan Jackel, Managing Director, Financial Services Organization, Tax, Ernst & Young LLP

  • Colin Brien, Senior Manager, Financial Services Organization, Tax, Ernst & Young LLP

Moderator

  • Debbie Pflieger, EY Americas Information Reporting and Withholding Services Leader

CPE credit offered: up to 1.8 depending on actual duration. Recommended field of study: Taxes. Learning objective: Explain recent information reporting and withholding developments and discuss how to manage 2021 information return filings. This intermediate level, group internet-based course has no prerequisites or advanced preparation. Final CPE award to be based on content, polling and length of participation. See CPE FAQ for more information.

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