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This webcast provides 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. The webcast shows how to handle reporting and withholding requirements for employee fringe benefits. We will explore the often-confusing rules for Form 1099-MISC, and you will even examine when and how much to report. Make sure you or your clients are in compliance and not subject to IRS penalties!
• 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
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. • 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.
Instructor: Beth Stenberg
CPE Credits: 8
Area of Study: Taxes 8
Prerequisite: Working knowledge of payroll tax issues or payroll type functions
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