This webcast is designed to provide you with practical pointers for managing the payroll tax and reporting function. Learn how to avoid the frequent penalties in payroll tax reporting and stay up-to-date with the latest information. We will also discuss how to handle reporting and withholding requirements for employee fringe benefits. Master the often confusing rules for Form 1099-MISC and other information reports including when and how much to report. Make sure you and your clients are complying and not subject to IRS penalties!
Learning Objectives
When you complete this webcast, you will be able to:
Recognize how to
prepare timely and accurate wage and tax reports~
Identify how to make
timely and accurate payroll tax deposits and payments~
Correctly
classify employees and independent contractors for payroll tax
purposes~
Identify how to address payroll tax issues involving fringe
benefits and their valuation~
Identify and properly withhold for
statutory employees and statutory non-employees~
Recognize how to comply
with information reporting including the various 1099 Forms and Form
W-2~
Identify how to properly report required information for new hires
and obtain required information on work eligibility and
identity~
Recognize how to properly report back employee wages and
back-up reporting of independent contractors~
Determine taxable vs~tax
free compensation~
Major Topics
Update on new changes made to payroll tax legislation for the current year including changes in health care laws
Review of various websites, forms, publications and other payroll and benefit tax resources
Properly reporting payroll withholding for various types of compensation
Understanding the 20 Factor Test for employee classification
Section 530 relief for employers with worker classification issues
Reporting requirements on a quarterly and annual basis
Understanding New Hire Reporting and latest changes in I-9 Reporting to verify employee identity and work eligibility
Forms W-2 and W-3 Issues
How to properly classify employee benefit tax liabilities
Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Business & Industry
Tax
CPE Field of Study
Taxes
8
Who Should Attend
CPAs in industry and public accounting responsible for the payroll tax function
Instructor(s)
Beth Stenberg
Prerequisites
Working knowledge of payroll tax issues or payroll type functions
