Payroll Taxes and 1099 Issues: Everything You Need to Know (111W419A16)
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 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
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
Advise clients on recent tax law changes, tax developments, and tax
issues affected by societal and economic trends
Identify and properly
withhold for statutory employees and statutory non-employees
Comply with information reporting including the various 1099 Forms and
Form W-2
Properly report required information for new hires and obtain required
information on work eligibility and identity
Properly report back employee wages and back-up reporting of independent
contractors
Properly 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
CPE Field of Study
Taxes
8
Instructor(s)
Beth Stenberg
Prerequisites
Working knowledge of payroll tax issues or payroll type functions
