Self-Processing
NOTE: These courses are designed for the unique needs of self-processors. Contact our Education Team to discuss your training needs and we will set up arrangements specifically for you.
Summary
This class is designed to review the many tasks and procedures related with end-of-year and annual tax reporting.Â
We will review the entire Year-End Processing Guide for the current year.
Audience
This class is designed for all staff responsible for completing year-end tasks, including special tasks for Operators and Data Processing Coordinators in a self processing environment.
Objectives
By the completion of this course, students will have:
n       Discussed critical deadlines
-
Reviewed detailed procedures
n       Explored necessary tasks for verification.
n       Reviewed deadlines for various tasks.
Topics
n       Task List
n       Tax Forms Including Pricing
n       Using Member Statements as Substitute 1099-INTs
n       Bonus Dividends and Loan Interest Rebates
n       Verification
§    Loan Categories (1098 Reporting)
§    Shares and CDs (1099-INT Reporting)
§    A/P Vendors (1099-MISC Reporting)
§    IRA Balance File
§    The Tax File and Printing the 1099/1098 Tax Report
n       IRAs
§    Form 1099-R Instructions (CMG-Administered)
§    Form 5498 Instructions (CMG-Administered)
§    Form 5498 Instructions (Self-Administered)
-
Provide procedures for beginning-of-year and statement processing
