1042-S International Information Reporting

Monday, May 10th; 9:45 - 10:45 AM

Sean Evans - Senior Tax Manager

DuCharme, McMillen and Associates, Inc. - Business Services

Presentation Style - Interactive Facilitated Discussion

Field of Study - Taxes

Intermediate # 2000 - Updated Session

This training session will cover international payments that are reported on federal Form 1042-S. Any company making payments to foreign vendors needs to have an understanding of when such payments must be reported to the IRS. This course will provide basic and advanced discussion on avoiding the potential pitfalls when making a foreign payment and will also look at the correct way of collecting data on W-8, W-8BEN and Form 8233. Topics include:

• Collecting data for year-end reporting
• Validating taxpayer identification numbers: SSNs, EINs, and ITINs
• Identifying international payees
• IRS requirements to identify non-U.S. payees who may be subject to tax withholding and/or subject to reporting on Form 1042-S
• Verifying data on W-8, W-8BEN and Form 8233
• How to determine whether a payment is subject to withholding and reporting
• Tax withholding rules and rates

Automating the Use-Tax Exemption Process

Monday, May 10th; 11:00 AM - 12:00 PM

Philip Hodge - CEO

Imaging Science & Services, Inc. - Business Services

Best Suited for Companies Processing more than 750,000 Invoices Annually

Presentation Style - Traditional PowerPoint

Field of Study - Taxes

Intermediate # 2005 - Updated Session

Examine real world lessons about handling use tax exemption certificates, including reasons behind the decision to move from a paper-based manual process to a software-based approach that supports workflow electronically. Providing proof of use tax exemption at the time of purchase will minimize your risk of a state use tax audit and maximize control of the overall pay-side process when dealing with your vendors. Depending upon the vendor representative can be tricky when you know you are exempt. An automated approach offers better management oversight of the process while providing the means to present and store use tax certificates for every vendor and/or transaction. Electronically requesting, generating and tracking use tax certificates gives you full control over every use tax exemption certificate and helps you proactively mitigate the risk and impact of a state use tax audit. It also saves on paper, printing and mailing expense- a greener approach for documenting use tax-exempt status.

Tuesday, May 11th; 11:00 AM - 12:00 PM

Marianne Couch - Principal

Cokala Tax Group - Business Services

Presentation Style - Traditional PowerPoint

Field of Study - Taxes

Intermediate # 2010 - New Session

Form 1099 reporting is on the verge of an unprecedented expansion of your reporting responsibilities, and in addition the IRS is stepping up enforcement so you need to be certain about sticky questions such as "Is this or isn't this reportable?" and "Do I or don't I have to withhold tax from this payment?" This session will give you the straightforward information you need to make smart, practical decisions in daily processing and procedures. Topics include:

• Expanding reporting to include all corporations, and reporting payments for goods; update on changes to the law
• Mandatory withholding by government payees: Will the rest of us have to do it too?
• Are hotels reportable, and if so, who really owns the property?
• What is a disregarded entity, and what does it mean for your reporting procedures?
• What legal damages are reportable, and how do you deal with pushback from attorneys?
• Payment card reporting: today's requirements and interplay with the new reporting that the card organizations must do.

Higher Education - Don't Forget the 1042-S

Tuesday, May 11th; 3:30 - 4:30 PM

Washam - AP Manager

The University of Oklahoma Health Sciences Center - 20 AP Employees; Educational Services

Presentation Style - Traditional PowerPoint

Field of Study - Taxes

Basic # 2015 - New Session

What risks do higher educational facilities have that are unique to them for foreign relationships? Know what and when to question and how to classify the relationship to ensure appropriate reporting. And wait, is there withholding? Come to this session and hear more best practices and share your thoughts.

Sales and Use Compliance

Tuesday, May 11th; 2:15 - 3:15 PM

Sean Evans -Senior Tax Manager

DuCharme, McMillen and Associates, Inc. - Business Services

Presentation Style - Interactive Facilitated Discussion

Field of Study - Taxes

Intermediate # 2020 - Updated Session

Keeping up with sales and use tax issues in a global, ever-changing business climate can be a nightmare. And the reporting, control, and audit requirements for accuracy never cease. The cost of ignorance in this particular field is sometimes incalculable. Sleep better at night by learning definitions, "lookfors," and procedures and methods for alleviating this stress. Experts in the field will help you see the big picture, suggest ways you can implement any cleanups necessary, and continue your education with up-to-date information. Session discussion will include:

• Difference between sales tax and use tax
• Different type of tax states
• Standard procedures and best practices for sales tax compliance
• Internal controls
• Nexus: "Must knows" for operating in a multi-state/local environment
• Avoiding the "surprise!" factor in an audit: Staying current    

Tax Reporting Payments to Foreign Vendors

Monday, May 10th; 11:00 AM - 12:00 PM

Marianne Couch - Principal

Cokala Tax Group - Business Services

Presentation Style - Traditional PowerPoint

Field of Study - Taxes

Basic # 2025 - Updated Session

The IRS has elevated tax compliance review of payments made to foreign vendors to a Tier 1 audit objective - the top level of enforcement priority, and now a standard part of every IRS audit. In this session you'll learn the basic reporting and tax withholding rules, plus "red flags" that alert you to problem areas, and a heads-up on federal changes that, if enacted as they are currently written, will increase the amount of tax withholding that an AP department will be responsible for.

• What's the difference between the 1099 rules and the 1042-S rules for foreign vendors?
• How do you identify potential foreign vendors in your files?
• Which Form W-8 do you need from a foreign vendor?
• How do you know whether tax treaty benefits are available to a vendor?
• If treaty benefits are available, how does your payee claim the benefits?
• What changes in withholding and reporting are proposed and how would you implement them?

The 1099 Reporting Burden: Finding a Solution

Thursday, May 13th; 10:00 - 11:00 AM

Ken Saylor - ONESOURCE 1099 Product Manager

Thomson Reuters (Tax & Accounting), Inc. - Business Services

Best Suited for Companies Processing more than 750,000 Invoices Annually

Presentation Style - Traditional PowerPoint

Field of Study - Taxes

Basic # 2030 - Updated Session

Whether you are automating your 1099 process for the first time, upgrading to new technology, or considering an outsourcing solution, there are specific things to look for - and to look out for - when considering the various products and services currently available. This session will cover some of the key decision points in making the correct determination of which solution or combination of solutions may be right for you. The focus will be on the application of the latest technologies and their integration with various levels of outsourcing services. Session discussion will include:

• Business requirements
• Compliance requirements
• 1099 reporting systems
• Managed services
• The complete solution

The IRS TIN Matching Program

Wednesday, May 12th; 9:45 - 10:45 AM

Sandy Champion, CAPP - AP Manager

Transit Mix Concrete & Materials Company - 7 AP Employees; Manufacturing Industry

Darlene Waggoner - AP Senior Analyst

Allstate Insurance Company - 26 AP Employees; Finance, Insurance & Real Estate Industry

Presentation Style - Traditional PowerPoint

Field of Study - Taxes

Basic # 2035 - Updated Session

The session will demonstrate the free IRS Taxpayer Identification Number (TIN) Matching Program. Learn the benefits of this program and how use of it can make IRS Form 1099-MISC filing more accurate. Find out how TIN matching will result in less problem resolution efforts when "B" notices and related penalties are issued. Discussion will include:

• Benefits of the TIN Matching Program
• How to register on the IRS Web site
• Match indicator codes and how to read results
• How to handle discrepancies
• How to develop a bulk TIN-matching file and submit
• A demonstration of the TIN Matching Program

The VAT Package and the Legislative Impact of Value Added Tax on U.S. Corporations

Wednesday, May 12th; 11:00 AM - 12:00 PM

Melissa Brod - VP

Meridian Global Services - Business Services

Best Suited for Companies Processing more than 750,000 Invoices Annually

Presentation Style - Traditional PowerPoint

Field of Study - Taxes

Intermediate # 2040 - Updated Session

Since the introduction of the 13th Directive, there have been numerous changes to the VAT legislation that have impacted U.S. companies. The recent introduction of the VAT Package has far-reaching effects on how U.S. companies will conduct business with European Union suppliers and how VAT will be accounted for and recovered. This session will address the legislative changes from both technical and practical perspectives providing industry specific examples that participants can use in their daily AP operations. Participants will learn to identify VAT charges on all aspects of their spending, how to address VAT invoicing requirements with EU suppliers and how best to educate their organizations on the impact of VAT expenditures and recover. Five key topics of discussion will be:

• Overview of the VAT Package legislation enacted on January 1, 2010
• Potential additional changes to country specific legislation
• Complexities and scope of VAT reclaim
• How AP departments can identify areas of VAT exposure
• Education tools to share within a company to demonstrate VAT exposure

Unclaimed Property: What You Need to Know to Get Into Compliance

Wednesday, May 12th; 11:00 AM - 12:00 PM

Kathleen Moyer -Senior Manger

Josiah Osibodu - Director

Thomson Reuters (Tax & Accounting), Inc. - Business Services

Best Suited for Companies Processing more than 750,000 Invoices Annually

Presentation Style - Traditional PowerPoint

Field of Study - Taxes

Intermediate # 2045 - Updated Session

Compliance with unclaimed property laws is more than a strategic imperative: It's the law. If your company has employees, customers, vendors, and shareholders (if publicly traded), there is a high probability that, at some point, your company will have an obligation to file an unclaimed property report. It is important that your company have processes and procedures in place for identifying, tracking, and reporting unclaimed property while avoiding the pitfalls of over- or underreporting.

This session is a unique opportunity to speak with leading unclaimed property specialists and to interact with other professionals facing the challenges of complying with the ever-changing unclaimed property reporting requirements. The session aims to increase your knowledge of unclaimed property reporting requirements, including due diligence requirements, unique property types, electronic reporting, tracking law changes, recovering assets, and identifying potential exclusions and exemptions.

Participants will discuss recent developments, statutory requirements, and best practices to help ensure compliance with the applicable state's unclaimed property law. Session discussion will include:

• Unclaimed property overview
• State responsibility
• Holder obligation
• Due diligence requirements
• Electronic reporting and payment
• Tracking changes to unclaimed property laws
• Asset recovery
• Potential exclusions
• Outsourcing your uncalimed property

Unclaimed Property Reporting Is MY Responsibility? Where Do I Start?

Thursday, May 13th; 8:45 - 9:45 AM

Heather Steffans - Business Development Executive

StoneRiver, Inc. - Business Services

Best Suited for Companies Processing 500,000-750,000 Invoices Annually

Presentation Style - Traditional PowerPoint

Field of Study - Taxes

Basic # 2050 - Updated Session

With statistics indicating that as many as 25 percent of people move each year, companies can lose track of their customers and vendors, which often translates to an increased amount of unclaimed property on their financial records. The facilitator will provide an introduction to unclaimed property focusing on compliance and best practices to reduce liabilities. Sarbanes-Oxley has brought unclaimed property to the forefront for many organizations as risk reduction is paramount.

The session will address some of the holder's responsibilities such as determining where this function should be housed, how to establish a compliance team, and identifying the different types of unclaimed property. The session will review some of the states' legislative requirements, including the due diligence obligations of the holders. Additionally, the presenter will discuss some of the differences of the state filing formats. This presentation will provide sample policy and procedures to help companies get started and point out some consequences of noncompliance.

Educational resources and organizations will be recommended to further the holder's understanding of the function. The speaker will share with the audience the benefits of joining the Unclaimed Property Professional Organization.