Description:
Learn the latest updates on Form W-4 and Form W-2 wage and withholding reporting. This webinar will prepare your staff for this filing year, improve your employee reporting set-up and maintenance practices, and reduce your risk of complaints from the IRS. Experienced CGMA and businessman Miles Hutchinson will review the current law and regulations regarding the filing of Forms W-2 and will provide practical guidance in these areas that have become the subject of increasing IRS scrutiny.
Why Should You Attend:
The IRS is changing the rules in regulatory reporting once again. We will review the current Forms W-4 and W-2 and related issues to prepare you for a smooth reporting season.
Who Should Attend:
This webinar will be invaluable for Accountants, CFOs, Payroll personnel, Human Resources, Accounts Payable personnel, Tax Managers and Attorneys.
What You'll Learn:
- Review legal and regulatory changes for the reporting year.
- Summary of the impacts of the Tax Credits and Jobs Act
- Benefits/credits about to expire.
- Retirement funding – new thresholds
- Updated forms, including the new form W-4 (no longer based on exemption allowances)
- Reporting the cost of employer sponsored health coverage – which employers are affected, when employers must begin reporting, what to report, valuation methods, etc.
- How to handle expense reimbursements made to employees - reportable/taxable?
- How to efficiently execute an electronic W-4 program
- Verifying employee social security numbers online
- Applying for advance credits using Form 7200
- Electronic filing with the SSA using Business Services Online (BSO) – the requirements and benefits.
- Where to turn when you want to transmit employee copies of W-2’s electronically
- What your company can do to minimize resource consumption when complying with this regulatory reporting requirement
- What if we make a mistake? Corrections and penalties
