Training Classes

Learn more about our tax information reporting and withholding compliance training classes.

Tax Compliance Training Classes

SEE BELOW for information about tax information reporting and withholding compliance training. To register, use the 2024 Class Registration Form or register by phone at (734) 629-5155.

1-DAY CLASS: FORM 1099 and W-9 TAX COMPLIANCE TRAINING

Primary focus on Forms 1099-NEC and 1099-MISC and the statutory and regulatory changes for 2023 requiring most organizations to file their 1099s to the IRS electronically. Class covers use of IRS Form W-9, federal backup withholding of 24% on certain payments, furnishing Form 1099 statements to payees, IRS electronic filing methods, Form 945 annual return required when tax has been withheld, how to process and respond to IRS Notices CP2100 and 972CG. Learning objectives: Identify payments which must be reported to the IRS; identify the reportable payee including when paying sole proprietors, LLCs or agents; identify payments which require backup withholding and what to do with the 24% you withheld.

2024 LIVE ONLINE Form 1099 class offered on:

  • Tuesday, July 16

  • Tuesday, October 15

  • Tuesday, November 19

Class fee $440, or $402 if registrant’s company is a Cokala subscriber.

1-DAY CLASS: BASIC FORM 1042-S / FATCA / FORMS W-8 TAX COMPLIANCE TRAINING (LEVEL 1)

Basic tax compliance for the requirements to determine status, withhold U.S. tax and file IRS Form 1042-S for payments to foreign entities and foreign individuals. Addresses issues under Code chapter 3 (withholding at source) and chapter 4 (FATCA, the Foreign Account Tax Compliance Act). Includes review of Forms W-8 for certification of status, rules for presumption of status in the absence of certification, federal deposit and Form 1042 filing for withholding tax liabilities, preparing Forms 1042-S, and pending regulations for cloud-based transactions. Learning objectives: Distinguish between payments to U.S. persons (reportable on Forms 1099) and payments to non-US. persons (reportable on Forms 1042-S and 1042); recognize the required elements for validity of W-8 forms and Form 8233 which certify foreign beneficial owners of income; identify payments reportable on IRS Form 1042-S; determine federal income tax withholding; prepare IRS Forms 1042-S and 1042.

2024 LIVE ONLINE Form 1042-S Level 1 class offered on:

  • Thursday, July 18

  • Thursday, October 17

  • Thursday, November 21

Class fee $440, or $402 if registrant’s company is a Cokala subscriber.

1-DAY CLASS: LEVEL 2 FORM 1042-S REPORTABLE PAYMENTS AND TAX WITHHOLDING

Building on the basic knowledge base of the Level 1 class, Level 2 provides a deeper dive into claims of a reduced withholding rate under tax treaties; sufficiency reviews of the W-8 and 823 forms; presumption rules for status when insufficient documentation is furnished; paying foreign intermediaries, agents and partnerships; and practice with review and validation of examples of the W-8 series forms, Form 8233 and Form W-9, and tax treaty claims. Learning objectives: review tax treaty benefit claims; research income tax treaties; process Form 8233 with the IRS; review W-8 series forms for sufficiency.

2024 LIVE ONLINE Level 2 Form 1042-S class offered on:

  • October 22

  • December 3

Class fee $440, or $402 if registrant’s company is a Cokala subscriber.

Workshops

Workshops are live online beginning 1 p.m. and ending 4 p.m. Eastern time. Class fee $240, or $215 if registrant’s company is a Cokala subscriber.

2024 workshops are offered on:

  • Thursday, April 18: Tax Treaties. Learning objectives: Able to research to determine applicable income tax treaty provisions and determine whether a foreign beneficial owner of income has made a valid claim of reduced tax withholding.

  • Thursday, June 20: Forms W-9 and W-8. Learning objectives: Review Form W-9 and the W-8 series forms to determine whether they are valid as certification of payee status and provide the information needed for tax withholding and Form 1099 and 1042-S filing.

  • Thursday, August 15: Tax Withholding and Reporting on Legal Settlement Payments and Payments to Attorneys.
    Learning objectives: Correctly report, on the appropriate IRS form or forms for tax information reporting, amounts of gross income or gross proceeds paid as a result of a legal settlement.

COKALA Tax Information Reporting Solutions, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

The Cokala programs described above are presented in group live online format (see individual program description). Program level: Basic; no prerequisite requirement for any of these Cokala classes, and no advance preparation required. Field of study: Tax. Recommended CPE credits: 1-day class, 6 credits. Workshop, 3 credits.

Registration, cancellation, refund, and privacy policies can be reviewed on our Policies page.