General
Summary
This class is designed to review the many tasks and procedures related with end-of-year and annual tax reporting.
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.
Objectives
By the completion of this course, students will have:
- Discussed critical deadlines
- Reviewed detailed procedures
- Explored necessary tasks for verification
- Reviewed deadlines for various tasks
Topics
- Task List
- Tax Forms and Pricing
- Using Member Statements as Substitute 1099-INTs
- Bonus Dividends and Loan Interest Rebates
- 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
- IRAs
- Form 1099-R Instructions (CMG-Administered)
- Form 5498 Instructions (CMG-Administered)
- Form 5498 Instructions (Self-Administered)
- Other Forms
