mastering-payroll-tax-management

OVERVIEW

In today's fast-paced business landscape, staying up-to-date with the intricacies of payroll tax regulations is essential for maintaining compliance and minimizing financial risks. This informative session brings together crucial topics that are often sources of confusion and concern for businesses of all sizes.

Amending W-2's & 941's:
We'll kick off the webinar by delving into the often-complex process of amending W-2 and 941 forms. Learn how to rectify errors, update employee information, and ensure accurate reporting to both employees and the IRS. Our experts will guide you through step-by-step procedures, offering insights into the common pitfalls and best practices to follow when amending these vital documents.
Withholding Insights:
Accurate payroll tax withholding is not only a legal requirement but also a critical aspect of employee satisfaction. Discover the key factors that influence proper withholding calculations, including changes in tax laws, employee exemptions, and taxable benefits. Gain a deeper understanding of the various types of withholding, such as federal income tax, Social Security, and Medicare, and learn how to optimize these processes to avoid over or under-withholding.
Multi-State Best Practices:
As businesses expand their operations across state lines, payroll tax management becomes considerably more intricate. Navigating the nuances of different state tax regulations, reciprocity agreements, and reporting requirements can be overwhelming. Our webinar will provide you with actionable strategies and best practices to effectively manage multi-state payroll tax compliance, ensuring seamless operations across all jurisdictions.
Tax Headache Solutions:
Payroll tax management can often lead to unforeseen challenges and complications. From addressing employee inquiries about tax deductions to managing tax-related discrepancies, we will equip you with practical solutions to alleviate common payroll tax headaches. Our experts will share real-world examples and strategies for tackling these issues proactively, preventing them from escalating into major concerns.
Join us for this in-depth session as we demystify the complexities of payroll tax management. Whether you're an HR professional, business owner, or financial manager, this session will empower you with the knowledge and tools needed to navigate payroll tax challenges with confidence. Don't miss this opportunity to enhance your expertise and ensure your organization's payroll processes are accurate, compliant, and headache-free.

WHY SHOULD YOU ATTEND?

Are you looking to enhance your grasp of payroll tax management and stay ahead in the ever-evolving world of financial regulations? Payroll tax management can come with its fair share of challenges, from employee inquiries to unexpected discrepancies.

Staying compliant with payroll tax regulations is not just a legal requirement but a vital aspect of maintaining your business's reputation and financial stability.

Learn from real-world examples and gain practical solutions to address these issues proactively, saving you time, resources, and potential disruptions. Join us for the enlightening webinar on "Mastering Payroll Tax Management," where we'll cover essential topics that can significantly impact your business's financial health and compliance standing.

The Learning Objective of the session is to:

Provide participants with a comprehensive understanding of amending W-2's and 941's, enabling them to rectify errors and maintain accurate tax reporting.
Equip attendees with insights into proper tax withholding calculations, helping them ensure accurate employee tax contributions and compliance.
Offer practical strategies for effectively managing multi-state payroll tax complexities, including navigating diverse tax regulations and reporting requirements.
Present real-world solutions to common payroll tax challenges, empowering participants to proactively address employee inquiries, discrepancies, and related issues.
Enhance participants' expertise in payroll tax compliance, enabling them to optimize withholding strategies, prevent penalties, and minimize financial risks for their organizations.

AREAS COVERED

Amending W-2’s and 941’s

W-2 and W-3 Corrections
‣ Statute of Limitations on Corrections
‣ Timing to provide corrections to employees/SSA
‣ Correct forms to use
Corrections on Current Forms
‣ W-2C or Corrected W-2
‣ Adjustments to 941 and 940
‣ Timing to send out corrections and reports
Corrections to Common Errors for Prior Year Forms
‣ Employee Name Corrections
‣ Employee Address Corrections
‣ Multiple W-2 Forms Corrections
‣ Box 12 Entry corrections
Federal Payroll Tax Form Amendments
‣ Form 941- Underpayments
‣ Form 941- Overpayments
‣ Form 940 Corrections
Other Considerations
‣ Overpaid FICA Taxes
‣ Correcting State Tax Forms
‣ C. Corrections to Local Taxes

Avoid Liabilities-Perfect your Understanding of Payroll Tax Withholding

Types of Payroll Taxes
‣ Federal Income Tax Withholding
‣ FICA and Medicare Taxes
‣ Additional Medicare Tax Withholding
‣ State Taxes
‣ Local Taxes
‣ Unemployment Taxes-Both State and Federal
Federal Tax Withholding Calculations/Payments
‣ How to calculate federal tax withholding
‣ How to determine how often to pay/report
‣ What happens if my liability increases
‣ 100,000 liability rules
Reporting of Federal Taxes-Withholding and Unemployment
‣ Form 941
‣ Form 941X-Amended Return
‣ Form 940
‣ W-2 and W-3
Reporting of State Taxes/Payments
‣ Information on calculating State withholding
‣ How often do I withhold and pay
‣ Liability increases
Local Taxes
‣ How to determine if there are local taxes
‣ Who/where do I pay them
‣ Am I obligated to withhold for non-residents
‣ Employer tax responsibilities/reporting
State Unemployment Taxes
‣ Determining What State, I pay taxes to
‣ Understanding Wage Bases
‣ State Reporting
‣ How/When to file

Multi-State Practices

Income Tax Withholding
‣ What State should I withhold
‣ Business Nexus
‣ Reciprocity between States
‣ Reporting Requirements-Residents vs. Non-Residents
State Unemployment Insurance
‣ Employees working in more than 1 State
‣ What is SUTA dumping
‣ Quarterly Wage Requirements & Electronic Reporting
Wage & Hour Issues
‣ Federal/State Relationship
‣ State W-4’s
‣ State Minimum Wages
Local Taxes
‣ Am I required to withhold
‣ Where do I pay
‣ Helpful Websites

Payroll Tax Headaches

How an organization gets into a Payroll Tax Liability
‣ Not paying taxes timely or according to federal or state guidelines
‣ Not researching regulations of where work is being performed to withhold proper taxes
‣ Paying taxes on the wrong frequency
‣ Improperly classifying employees as contractors
‣ Not withholding/over withholding on foreign employees
Precautions to take
‣ Research when going into a new location
‣ Audit tax withholdings
‣ Check liability before the new year for frequency issues
‣ AP Audits against employee records
‣ I-9 Audits, watch for red flags on employee documents
‣ When you realize a mistake was made file an amendment
Types of Consequences
‣ Fines/Penalties
‣ Levies
‣ Trust Fund Recovery Actions
IRC Section 6672-Trust Fund Recovery Penalties
‣ What is IRC Section 6672
‣ What taxes does it apply to
‣ Types of Appeals/Claims
‣ Requests for Abatement/Refunds
‣ What parties can be held responsible
What to do when you receive a Notice
‣ Respond to the Notice as soon as possible
‣ Write a detailed letter of explanation
‣ Send documentation to back up the claim
‣ Ask for a waiver of penalties and interest
Helpful Websites, Publications, and Ways to Get Help
‣ IRS.gov, Publication 15
‣ State Websites and Employer Guides
‣ Local Government Websites
‣ Google/Search engines
‣ Taxpayer Advocate Service

WHO WILL BENEFIT

This webinar is designed to cater to a diverse audience with varying levels of expertise in payroll tax management, offering valuable insights and practical solutions for each group's unique needs.

HR Professionals, Tax professionals & Compliance Officers
HR managers, Payroll Specialists, and Administrators
Payroll Managers, Financial Managers
Finance professionals, Controllers, and CFOs.
Business Owners: Small and medium-sized business owners
Tax and Legal Advisors: Tax professionals, accountants, and legal advisors
Multi-State Businesses: Professionals working in organizations with operations across multiple states
Compliance Officers:
Problem-Solving Teams: Individuals who handle payroll-related inquiries, discrepancies, and challenges and are seeking practical solutions.
Individuals who want to enhance their understanding of payroll tax management for personal or professional growth.

Purchase options

Option	Price
Recorded Link Only	$499
Recorded USB Only	$599

*Training USB will be shipped within 7-10 working days. *Buy Now Pay Later option is available in the payment cart page.
* Corprate Live: Maximum number of Attendees will be limited to 10.

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Debbie Cash, CPP

Manager TLM Implementation, G&A Partners

About speaker

Debbie Cash, CPP is a Manager of TLM Implementation at G&A Partners. G&A Partners is a Professional Employer Organization (PEO) that offers payroll, human resources, benefits management, risk management, and accounting services for businesses. G&A Partners acquired Employer Advantage LLC (PEO) in February 2022. Debbie began working for the organization in 2006 as a Payroll Tax Specialist and Time and Attendance Specialist. She was promoted to Time/Labor Manager in 2021.

Debbie earned an associate's Degree in Accounting from MSSU in 1985 and a bachelor's Degree in General Business from MSSU in 2006. She obtained her Certified Payroll Professional Certification in October 2006. She has 30+ years of experience processing payroll and payroll taxes for various different companies and professions.

Debbie worked as a Payroll Specialist at Missouri Southern State University from 1993 to March 2006. She attended the International Tax Conference in Wisconsin in 2005 and specialized in International Tax for Student Visa. She also worked for Joplin R-8 School District processing payroll from 1990 to 1993.