This program has been approved for 1.0 PDCs toward SHRM certification hours.
The program is pre-approved for 1 credit hour under HRCI
DESCRIPTION
Form W-2 and 1099 is the baseline information tax forms that are critical to a lot of business professionals that we deal with each year. Everyday changes are occurring that effect how we handle these forms. It is critical to stay on top of current rules and regulations regarding these critical forms.
This webinar will give you all the tools to make sure that you have an accurate W-2/1099 filing season and meet all the changing deadlines for tax year 2017. This session will discuss the administering and IRS requirements for an electronic delivery of the form W-2 along with pending legislation that will impact W-2/1099 in the future. It will also shows the details around the deadline changes that impact the W-2 and 1099 for 2017 and what that means for the ACA forms 1094 and 1095.
Learning Objectives:
- Deadline Changes for 2017
- Information Return Penalty changes
- Electronic Delivery Requirements
- ACA Reporting Concerns
- What we learned from our first filing and changes for 2017
- Cadillac Tax Extension
- Annual Taxation Updates
- Transportation Fringe Benefits and retro corrections
- Taxation of Fringe Benefits
- 2016 Budget and Payroll Impact
- PATH Act and what is means
- Updates to be covered
- IRS Releases 2017 Forms W-2
- IRS Releases 2017 ACA Information Reporting
- IRS Releases 2017 Publications 15, Circular E; 15-A; and 15-B
Session Highlights:
- Reconciliation of Form W-2 to Form 941 and why should it be done
- Year-beginning annual changes update on social security wage base, standard mileage rate, fringe benefit limitations, qualified transportation fringe benefits, federal per diem allowance etc.
- Using required year-end notice to update coming year preparations to employees
- Best practices on organizing the payroll department for year-end including action item check lists for Form W-2, Year end and Year beginning to ensure a smooth process
- Handling duplicate requests for Form W-2 including charging fees
- Best practices for gathering, calculating and reconciling W-2 data all year long as is now expected by the IRS
- Fringe benefit taxation for year-end including awards and prizes, moving expenses, personal use of company cars and gift certificates
- Latest update on white-collar exemptions and electronic delivery of W-2s to employees
- What is the correct time to use Form W-2c and when to correct the W-2 itself
- Reviewing filing deadlines and Third Party Sick Pay reporting
Who should attend:
- HR Professionals
- Accountants
- Controllers
- Payroll Professionals
- Tax Professionals
