Formally known as: IRS Regulation Boot Camp includes CPRS Certification
With ever-changing federal legislative and regulatory requirements, any organization that is not knowledgeable and prepared to comply with complex regulations could face significant penalty assessments, which could also be subject to public disclosure.
The penalties and risks associated with noncompliance are onerous, and the burden is on you and your organization – not the IRS – to see that you are educated about regulatory updates. Ignorance of the law leaves you and your company exposed to costly penalties and legal fees.
This session addresses in detail the Form W-9 solicitation, backup withholding, tax deposit, and reporting requirements. It also reviews the B-Notice and Penalty Notice procedures and includes a brief overview of Form 1042-S withholding and reporting requirements for payments to foreign vendors.
Accurate payment reporting is a critical function in AP, and earning a certification in this area of accounts payable demonstrates to your employer that you are dedicated to achieving 100% compliance. Employees who have earned the CPRS designation can play a key role in ensuring accurate reporting and avoidance of penalty tax assessments – improving the bottom line and increasing your value to the organization.
Course type: In-person (with online access to e-textbook) | Designation Earned: Certified Payment Reporting Specialist (CPRS) | Designed for: The Payment Reporting Specialist (CPRS) Certification Program is designed for those whose responsibilities include accurate and IRS-compliant payment reporting.
Learning objectives for this full day pre-conference class:
- Prepare for your CPRS Certification Final Exam and earn your Certified Payment Reporting Specialist credentials
- Learn how to mitigate risk of onerous penalties associated with noncompliance – improving the bottom line and increasing your value to the organization
- Address in detail the Form W-9 solicitation, backup withholding, tax deposit, and reporting requirements
- Review the B-Notice and Penalty Notice procedures
- Cover briefly Form 1042-S withholding and reporting requirements for payments to foreign vendors
Registration includes:
- Pre-event: Access to the Certification e-textbook
- On Pre-Conference Day: 6 hours of live in-person instruction and an opportunity to take the 90-minute final exam of 100 multiple-choice questions (and earn your Certified Payment Reporting Specialist credentials)
- After Class: A printed certificate if you pass and 1-year of access to the online self-study program if you do not pass
