Sunday, September 23, 2012
1:00 p.m. - 5:00 p.m.
Tax reporting is a yearlong cycle with many time sensitive and complex processes. This Taxport training steps through these necessary processes throughout the year. We will also be covering some of the more advanced Taxport features that will help you make your upcoming tax season more efficient.
1:00 p.m. - 4:00 p.m.
Taxport AP Training
Taxport AP, Convey's newest solution, is designed specifically for Accounts Payable Professionals. This training will cover how you can automate your 1099 processing regardless of form volume or complexity. Specific areas to be covered include basic navigation, importing, corrections, outputs and TIN matching.
This session is designed for 1099Convey users and will address installation, importing, printing and transmitting. Tips and tricks for using the solution will be presented, along with best practices to help make your processes as efficient as possible.
If you are a current Manchester client, attend this training session to better understand the solution, including installing, importing, printing and transmitting. We will also cover the prime features in Manchester to help you make the most of your solution.
6:00 pm - 8:00 pm
Monday, September 24, 2012
7:00 am - 7:45 am
Breakfast / Exhibitor Showcase
7:45 am - 8:00 am
Welcome, Housekeeping Items and Intro to Convey Keynote
8:05 am - 9:10 am
Convey Compliance Keynote
9:15 am - 10:30 am
10:30 am - 11:00 am
Morning Break / Exhibitor Showcase
11:05 am - 12:00 pm
Intro to 1099 Reporting
Deb Bethel, Convey
Learn the basics of IRS Form 1099 in this session, including types of forms and types of payment situations that require IRS form 1099, who is required to complete them, and how to account for 1099 income.
1099 Issues in Banking
Cheryl Reidlinger, The Tax Reporting Group
Find out about current hot topics in the banking industry and best practices around how to handle them. Everything from dealing with the tricky reporting of foreclosures/cancellation of debt for loan modifications and cost basis reporting for stock to how to respond to the new $100 per form penalty structure will be covered.
Cost Basis Reporting Issues in 2012
Stevie Conlin, Wolters Kluwer
The cost basis regulations are finalized and a year of Covered Securities processing and Basis Adjusting Entries is behind us. Now it’s time to prepare for 2012 and the expected sizable increase in basis adjusting entries due to the inclusion of RICs and DRP accounts into the Cost Basis mix. In this session, we will discuss the year just passed, the new challenges in 2012 and the delay of debt and options to 2014.
12:05 pm - 1:00 pm
1:05 pm - 2:00 pm
W-8 / 1042-S / NRA Reporting for AP
Marianne Couch, COKALA
1042-S reporting has received significant attention by the IRS in the past couple of years and most AP departments do not spend nearly enough time staying on top of this more complex reporting. Come learn about the ever changing world that is Non-Resident Alien (NRA) reporting. This session will speak to securing proper W-8 documentation, the 30% tax withholding requirement, and managing the new IRS validations and rules for filing 1042-S tax information.
Meeting Your State Reporting & Withholding Responsibilities
Steve Mercatante, Esq., TIR Consulting
This session will provide greater clarity around the Combined Federal State (CFS) program and take a closer look at the unique challenges associated with state reporting and withholding requirements, highlighting some of the special reporting requirements certain states dictate. The session will also cover strategies to address these unique state requirements efficiently.
Harmonizing Chapter 3 With Chapter 4
Laurie Hatten-Boyd, KPMG
Cyrus Daftary, Burt, Staples & Maner
It is easy to forget there are complex Chapter 3 NRA reporting and withholding obligations your organization must comply with given all of the buzz about FATCA. Learn about all the Chapter 3 changes and what these changes mean for your documentation and due diligence processes so you can successfully navigate your organization through these waves of change. .
2:05 pm - 3:00 pm
FATCA for Multi-National Corporations
Debbie Pflieger, Ernst & Young
The Foreign Account Tax Compliance Act (FATCA) imposes significant new due diligence, withholding and reporting obligations on US withholding agents. These obligations became much clearer when the Treasury Department issued proposed FATCA regulations earlier this year. While much of the attention to date around the proposed regulations has been focused on foreign financial institutions (FFIs), this session will focus on FATCA’s impact on US financial institutions and other US companies.
How to Stay on Top of Master Vendor File Management
Mary Schaeffer, AP Now & Tomorrow
This session will discuss best practices around proactively keeping your Master Vendor File accurate and complete, including making sure you have adequate W-9 (TIN) information on file.
Current and Potential Changes in Brokerage Information Reporting 2012/2013
The IRS regulations on brokerage information reporting issued in 2012 are taking effect beginning in 2013. The new regulations will include mandating information reporting of market discounts and premiums, and adding the sale of options on Form 1099B. This session will discuss 2012 changes and proposed 2013 changes.
3:05 pm - 3:30 pm
Afternoon Break/Exhibitor Showcase
3:35 pm - 4:30 pm
Backup Withholding Tips & Tricks
Jeff Cronin, Convey
This session will help those concerned about the intricacies of the backup withholding process. Find out how to avoid back-up withholding activities as much as possible and how best to remit and report whatever activities you are required to perform.
TIN Management Best Practices
Ray Grove, Convey
Keeping complete and accurate TIN records is one of the most important keys to a successful information reporting program and a key way to eliminate IRS penalties. This session will go through strategies to help you stay on top of collecting and updating your Name/TIN records efficiently.
Foreign Securities Tax Withholding and Reporting
Bill Treut, Globe Tax
The reporting and withholding of foreign securities is very complex. An expert from Globe Tax will discuss foreign legislative changes that affect income payments, withholdings at source of various countries and the tax reclamation opportunities.
4:35 pm - 5:30 pm
Skit: Difficult Conversations
Debbie Pflieger, Todd Larsen, Ernst & Young and Troy Thibodeau, Convey
The IRS is becoming more and more diligent on certain aspects of tax information reporting: 1042-S foreign reporting and the new proposed FATCA rules, to name a few. This means even more challenges for your organization, and you might be wondering how you will have those difficult conversations with your management team about all the changes taking place in the tax information reporting landscape. We'll also explore conversations with your payees around information reporting issues and questions, as well as conversations you might need to have with the IRS about your organization's compliance. In this highly entertaining skit, learn some tips and tricks to make these conversations less taxing on you.
5:30 pm - 5:45 pm
Wrap Up and Evening Activity Information
7:00 pm - 10:00 pm
Evening Dinner and Entertainment
Tuesday, September 25, 2012
Welcome and Intro to the Day
8:05 am - 9:00 am
Candace Ewell, PricewaterhouseCoopers
The Information Reporting Program Advisory Committee (IRPAC) has been working with the IRS to improve information reporting and be the voice of the private sector for over 20 years. In this session find out who IRPAC is and how they are working with the IRS to improve information reporting. The current agenda and review of the topics IRPAC is discussing will be covered. Find out how to contact IRPAC to provide your feedback to ensure your voice is heard.
9:05 am - 10:00 am
10:05 am - 10:30 am
Morning Break/Exhibitor Showcase
10:35 am - 11:30 am
Tax Changes in 2012
Steve Mercatante, Esq., TIR Consulting
Although the new corporate reporting requirements have been repealed, the government is still putting an increased focus on enforcing tax compliance. This session will discuss what is currently happening legislatively that could impact 1099 reporting in the near future, and why organizations are encouraged to review their 1099 processes and procedures and continue to clean up their data to ensure correct, timely filing and prepare for similar legislation to be incorporated into law in the future.
Paula Porpilia, TIN Compliance Consultants
New reporting requirements went into effect this year for merchant acquirers and their affiliates as well as third party networks. This session will cover who is responsible for filing the new Form 1099-K, what needs to be reported including such issues as "gross amount", payments vs. transactions, and backup withholding beginning next year.
Unclaimed Property Compliance: Let's Set the Record Straight!
Deborah Beauchamp, StoneRiver
In this session we will identify key unclaimed property basics including property identification and management, reporting requirements and risks of non-compliance. We will also address your company's primary responsibilities and identify practices you can put into action today.
11:35 am - 12:30 pm
Retirement Services Reporting
Sue Diehl, PenServ
Retirement account (1099-R) payments have their own unique set of complications. Changes to retirement reporting, like Roth roll-over reporting, create their own challenges. This session will cover the latest in 1099-R reporting and provide practical suggestions on how to stay on top of these requirements.
FATCA Regulations Are Out: Are You Prepared?
Cyrus Daftary, Burt, Staples & Maner
Once the FATCA regulations become effective, they will have a significant impact with their sweeping implications on financial institutions and their clients. This session explains in great detail how your firm can better prepare all its operations in anticipation of the effects of FATCA over the coming months and years.
12:30 pm - 1:30 pm
1:35pm - 2:30 pm
2:35 pm - 3:30 pm
State Withholding Determination
Marianne Couch, COKALA
Determining the proper state withholding on payments can be a nightmare, especially when each state has their own unique set of requirements. Withholding the wrong amount can lead to penalties as well as upset and frustrated clients. This session will cover state withholding determination including recent changes in states such as Michigan.
Tips & Tricks
A session to cover some of the more advanced features of Taxport from import automation, to creating and publishing reports for your users. This session will make sure you are leveraging the full capabilities of Taxport to streamline your business activities.
New Forms W-8 and W-9 to be Released Before the End of 2012
Kelli Wooten, Burt, Staples & Maner
Jill Dymtrow, Compliance Technologies, Inc.
Revised W-8 and W-9 Forms surely will be a challenge not only for vendors/clients but for multi-national corporations and financial institutions as well. This session clearly outlines the new due diligence obligations, changes and enhancements you need to explore to be thoroughly prepared for what will prove to be significant changes to your current procedures.
3:35 pm - 4:00 pm
4:05 pm - 5:00 pm
Core Concepts in B- Notices & Penalty Abatement
Jacqueline Bak, PricewaterhouseCoopers
This session will provide greater clarity around the whole b-notice/p-notice process and provide practical recommendations on how to avoid b-notices and effectively abate penalties.
Statement Delivery Best Practices
Neal Lefebvre, Convey
Printing & mailing of forms can be one of the most expensive hard dollar aspects of 1099 reporting. This session will cover a number of recommendations to make the form delivery process more cost effective. Privacy and data security techniques like TIN masking and electronic statement delivery will be discussed.
5:05 pm - 6:00 pm
Wrap Up and BINGO Awards
6:00 pm - 6:30 pm
Dinner / Free Evening