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Tips, Strategies and Best Practices for Payroll Department to Prepare for Year End 2017 and Year Beginning 2018
Preparation for the end of the tax year should not begin in the last quarter, the way it used to in the past. Now, preparation needs to begin in January, and to be conducted throughout the year. With the IRS looking at year-end compliance issues, this has become especially necessary. Learn the latest best practices for a smooth transition from 2017 to 2018, during this webinar.
It’s time to prepare your department as the 2017 calendar year approaches its end, and get started with the 2018 New Year payroll processing.
In this webinar we will give the latest best practices to help your payroll department transition from a year end crunch to a smooth and compliant year end process.
Why You Should Attend:
This webinar by expert speaker Vicki M. Lambert, CPP will help you update your year-end payroll processing and prepare for the beginning year 2018. This webinar will be comprehensive and will cover a large number of topics, so you are well-prepared for your duties. Topics under discussion include: checklists and memos for staying organized, updates to various items for 2018, why (and how) to work throughout the year, year-end memo to help payroll departments inform the company’s employees of what is to come next year, taxation of fringe benefits for year-end (including awards and prizes, moving expenses, use of company cars, gift certificates), and many more.
The webinar is designed to provide the latest best practices to you and help in the transition of your payroll department all the way from a year-end crunch to a smooth and compliant year-end process. You will know how checklists help in keeping you on track, ensure all tasks are completed and explain how a simple 2-page memo is enough to prevent various questions from employees. The webinar will also discuss how your duplicate form W-2 request form and procedures need to be set-up and in place before issuing forms. You will know how this will assist you when you process those requests in the upcoming year.
After the webinar, you will have a thorough understanding of the best practices, changes and updates, and you will also be equipped with other helpful information.
All webinar attendees will be given handouts which will help them remember and make the most of the training they have received. Handouts include a sample form for requesting duplicate form W-2.
Session Highlights:
- Why (and how) is reconciliation of Form W-2 to Form-941 done
- Learn how to verify employee names and SSNs
- Go through the process of reviewing filing deadlines
- Learn how to update your employees for the coming year using the required year-end notice
- Go through the best practices on organizing the payroll department
- Learn how to handle duplicate requests for Form W-2, including charging fees
- Find out about changes to Form W-2 for 2017, and possible changes to Form-941 for 2018
- Go through the best practices for gathering, calculating and reconciling W-2 data throughout the year, as is expected by the IRS.
- Learn about electronic delivery of W-2s to employees
- Go through the latest update on white-collar exemptions
- Learn when you should use the Form W-2c and when you should correct the W-2 itself
- Discuss how to work throughout the year to collect information from accounts payable, instead of trying to obtain all the information at the last moment
- Update on year-beginning annual changes for social security wage base, fringe benefit limitations, federal per diem allowance, standard mileage rate, qualified transportation fringe benefits, and more.
- Taxation of fringe benefits for year-end including awards and prizes, moving expenses, personal use of company cars and gift certificates
- State regulatory changes affecting payroll including SUI wage bases, minimum wage increases and more
- Review of EFW-2 record changes for tax year 2017
- Verifying employee names and SSN’s
- Review of filing deadlines
- Third Party Sick Pay reporting
Who Should Attend:
- Payroll Professional
- Human Resources Professionals
- Finance And Accounting Professionals
- And anyone who must handle closing out the calendar year payroll and preparing Forms W-2
