1099 Compliance: Reporting Sales Proceeds to Sellers and the IRS
(a ATG Legal Ed OnDemand program)

PROGRAM SUMMARY:

Federal law requires that the "Settlement Agent" report to both the seller and the Internal Revenue Service the sales price of residential real property. This 1.50 hour program will guide ATG member closers through this reporting process. It will describe how REsource can make this process much easier. The program will cover:
  • Identifying and documenting "reportable real estate" transactions;
  • Understanding the rules and documentation for exempt transactions;
  • Delivering the 1099-S to the seller at the closing;
  • Using REsource for both seller and IRS reporting; and
  • Reporting deadlines and fines.
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ATG’s remote-learning system enables you to participate in MCLE without leaving your office. Register via e-mail. No software downloads or cumbersome add-ons — just a Flash-enabled* web browser, which you probably already have! Click here for more information.

*NOTE: After May 19, 2008, users must update their Flash Player to version 9 or greater. To install Adobe Flash Player version 9, click here.

CONTINUING LEGAL EDUCATION INFORMATION:

ATG is an Illinois Accredited Continuing Legal Education Provider. This program qualifies for 1.50 hours of MCLE credit in Illinois and 1.50 hours of CLE credit in Wisconsin and Indiana.

WHO SHOULD ATTEND:

ATG members who handle their own closings; support staff.

ATTENDEE RATES:

The following per person rates apply for this program:
  • $50 | Active ATG member attorneys (*issued and remitted at least one policy during the current year)
  • $25 | Paralegals and staff employed by active ATG member attorneys
  • $95 | Inactive ATG member attorneys and their paralegals and staff; non-member attorneys; others

ABOUT THE SPEAKER

REGISTER:

On-Line Form

Each person attending must register separately. You will need external speakers or headphones (see requirements).
Learn more:
About ATG
Subsidiaries
Benefits of ATG Membership
Membership Application Form
[Last update: 5-7-08]