The โ€œB Noticeโ€ Process: What You Need to Do When This IRS Notice Arrives


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โ„น๏ธ About this Webcast
๐Ÿ“ Short Description
Filing your information returns at year end may not always be the end of the reporting process for these records. In September this year, you may receive notification from the IRS that certain records from your last year's filing contain name/TIN discrepancies. The steps that you take to address these discrepancies will ultimately determine if your organization will be penalized for these errors. Plan to attend this session to learn the process you must follow to ensure that your organization will be compliant.
๐Ÿ—ฃ Speakers
Carol Kassem
Regulatory SME, IRS Compliance
๐Ÿ“ฒ Digital Download Available
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SKU: webcast-8142018 Category:

Product Description

In September, you may be receiving a notice from the IRS (CP2100/CP2100A) that identifies certain accounts that were included in your most recent year end filing for which the name/TIN information is incorrect or missing. Although this notice does not require a response to the IRS, you must still perform certain solicitations (“B Notices”) with respect to the information contained in the notice.

In this session we will discuss:
  • What does a CP2100/CP2100A notice look like?
  • What is the difference between a B-Notice and a Penalty Notice?
  • Are we required to send out solicitations for certain accounts?
  • What if we just call our payees instead of sending the solicitation letter?
  • How frequently does the IRS send out these notices?
  • Why is this notice time sensitive?
  • What types of accounts are included in this notice?
  • What do I do with the information contained in the notice?
  • How do I perform solicitations?
  • What is a B-Notice?
  • What happens if I do nothing?
  • How do I know if a CP2100 or CP2100A notice has been issued?
If you receive this notice, timing is everything. Be prepared to perform the necessary steps to process this information to satisfy your compliance responsibilities.