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Most people in the banking business are familiar with IRS Form 1099-INT, which deals with true interest payments (payments for the use or forbearance of money).
However, confusion arises around the requirement to file Forms 1099-INT and 1099-MISC for promotional payments to customers, such as incentives for opening accounts, setting up direct deposits, or using specific debit cards. This issue has become more complicated with the rise of fintech. The lack of clear guidance can lead to significant missteps and potentially hefty penalties.
Gain an overview of some of the reporting issues and penalties and uncover a path forward for complying with Forms 1099-INT and 1099-MISC for promotional programs.
Learning Objectives:
Duration: 60-minutes
ICBA Members
Live: $209
On-Demand: $229
Live + On-Demand: $249
Non-Members
Live: $309
On-Demand: $329
Live + On-Demand: $449
Unlimited Webinar Pass subscription: $0
For more information, call 800-422-7285.
Who should attend: Director, Executive, C-Suite, Leadership, Operations
Prerequisites: None
Advanced Preparation: Basic knowledge of banking.
Program Level: Intermediate
Field of Study: Specialized Knowledge
Delivery Method: Group Internet Based
CPE Credit Hours: 1
Counsel
Hunton Andrews Kurth
Registration, attendance, or participation at this event constitutes an agreement to adhere to the ICBA code of conduct and complaint policy. ICBA aims to be welcoming, safe, and inclusive to all participants, with the most varied and diverse backgrounds possible.
As such, The Independent Community Bankers of America (“ICBA” or the “Association”) has adopted a zero-tolerance policy toward all forms of unlawful discrimination and harassment.