Objective
- Distinguish an employee from an independent contractor and understand the relief available to employees who misclassify
- Understand how to complete Forms W-2, 1099-MISC, 1099-R, and SS-8
- Comply with the quarterly and annual reporting for employment tax deposits
Highlights
- Payroll tax requirements for wages, including wages subject to the .9 percent tax, employee benefits and reimbursements, nonqualified deferred compensation, stock options, and tips
- Fringe benefits issues, such as health insurance, life insurance, cafeteria plan benefits, accountable and non-accountable plans, standard mileage rates, and per diem rates
- Special issues -- Using a common paymaster, how to file W-2s after a takeover, merger, or acquisition, and state and local tax withholding
- Statutory employees, independent contractors, and possible changes to §530 relief
- Penalties -- Who is a responsible person?
- Moving expenses and gross-up calculations
- Form 941 issues and problems, such as disability benefits, tip income, and deceased employees
- Pension issues and payroll taxes including SIMPLE plans, and §401(k) and pension distributions
- The Electronic Federal Tax Payment System (EFTPS)
- Forms I-9, W-9, W-2, 1099, SS-8, and Form 940
Designed For
CPAs in public accounting and industry with responsibility for payroll tax compliancePrerequisite
NoneAdvanced Preparation
None