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. It also shows 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 or your clients are in compliance and not subject to IRS penalties!
Learning Objectives
Recognize how toprepare timely and accurate wage and tax reports
Identify how to maketimely and accurate payroll tax deposits and payments
Correctlyclassify employees and independent contractors for payroll taxpurposes
Identify how to address payroll tax issues involving fringebenefits and their valuation
Identify and properly withhold forstatutory employees and statutory non-employees
Recognize how to complywith information reporting including the various 1099 Forms and FormW-2
Identify how to properly report required information for new hiresand obtain required information on work eligibility andidentity
Recognize how to properly report back employee wages andback-up reporting of independent contractors
Determine taxable vs~taxfree 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
Tax
CPE Field of Study
Taxes
8.0
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
