Overview :
A major task of Payroll departments is providing W-2 Forms to employees and to the Social Security Administration. The Forms must be correct, complete, and filed on time or the employer may face stiff penalties. For 2016 W-2 Forms the due date for filing the forms with the Social Security Administration was moved up to January 31, 2017. This also means that the dates for making corrections with reduced penalties have also been accelerated. In addition the IRS expects to see more errors on W-2 Forms and has changed the rules regarding de minimus corrections for returns filed after December 31, 2016.
Why Should You Attend :
Payroll taxes are a serious issue for the IRS. Two thirds of federal taxes are collected through the payroll tax system. By law, employers must withhold federal income, Social Security and Medicare taxes from employees’ wages. In response to instances of identity theft and tax fraud involving W-2 Forms, the IRS and Social Security Administration changed the due dates for filing information returns including W-2 Forms.
Areas Covered in this Webinar :
Filing Errors – types and causes and how to avoid them
Correcting Forms W-2 – employee copies and filing copies
Name and SSN Mismatches – SSN verification and reasonable cause exceptions to penalties
Incorrect Withholding – when and how to correct
Correcting wage underpayments and overpayments
When Form 941 must also be corrected
Filling out Form W-2c – box by box
Employee Misclassification– How to correct- W-2 or W-2c ?
New filing deadlines for 2016 information returns
New rules regarding reporting of errors and changes to de minimus error rules
Increased penalties for 2015 and later returns
Learning Objectives :
Know how to use Social Security Resources to prepare, submit, and correct W-2 forms.
Know which actions to take before year end to avoid employee information return errors.
Be aware of common W-2 errors and how to avoid them and how to correct them if they occur.
Know what to do when an employee’s name or tax ID number is incorrect.
Understand methods use to reconcile to Forms 941 and what to do if differences are discovered
Be aware of the new filing deadlines and related error correction rules
Be aware of the increased penalties for non-compliance and how to avoid or minimize them
Who Will Benefit :
Payroll Supervisors and Personnel
Payroll Consultants
Payroll Service Providers
Public Accountants
Internal Auditors
Tax Compliance Officers
Enrolled Agents
Employee Benefits Administrators
Officers and Managers with Payroll or Tax Compliance Oversight
Company / Business Owners
Managers/ Supervisors
Public Agency Managers
Audit and Compliance Personnel / Risk Managers
For more information, please visit : https://www.complianceglobal.us/product/700665/PatrickAHaggerty/hr-&-payroll-training-courses/1
Email: support@complianceglobal.us
Toll Free: +1-844-746-4244
Tel: +1-516-900-5515
Level:
Intermediate
Speaker Profile :
Pat Haggerty is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice. He began teaching accounting at the college level in 1988. He is licensed as an Enrolled Agent by the U. S. Treasury to represent taxpayers at all administrative levels of the IRS and is a Certified Management Accountant. He has written numerous articles and a monthly question and answer column for payroll publications. In addition, he regularly develops and presents webinars and presentations on a variety of topics including Payroll tax issues, FLSA compliance, and information return reporting.
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