Cancelled:Payroll Taxes, Benefits and 1099 Reporting: Everything You Need (111115A-13)
Description
This course 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 what has changed in the
past few years. It also shows how to handle reporting and withholding
requirements for employee fringe benefits. Master the often confusing
rules for Form 1099 and other information reporting including when and
how much to report. Although the materials in this course intend to
cover everything you need to know about payroll taxes, benefits and 1099
reporting; not all of it will be discussed in class due to time
limitations.
Learning Objectives
Prepare
timely and accurate wage and tax reports
Make timely and accurate
payroll tax deposits and payments
Correctly classify employees and
independent contractors for payroll tax purposes
Address payroll tax
issues involving fringe benefits and their valuation
Identify and
properly withhhold for statutory employees and statutory non-employees
Comply with information reporting including the various 1099 Forms and
Form W-2
Properly report back employee wages and back-up reporting of
independent contractors
Properly determine taxable vs. tax free
compensation
Major Topics
Update on changes to payroll taxes and reporting over the last five
years
Review of various websites, forms, publications and other
payroll and benefit tax resources
Properly reporting payroll
withholding for various types of compensation (supplemental
compensation, tips, additional withholding, etc.)
Understanding the 20
Factor Test for employee classification
Section 503 relief for
employers with worker classification issues
Reporting requirements on
a quarterly and annual basis
Forms W-2 and W-3 issues
How to
properly classify employee benefit tax liabilities
Understanding New
Hire Reporting and verifying employee identity and work eligibility
Payroll reporting options during mergers, acquisitions and other
reorganizations
Common Paymaster Requirements
Course Level
Intermediate
CPE Field of Study
Taxes
8
Prerequisites
Working knowledge of payroll tax issues or payroll type functions
