Objective
- Distinguish an employee from an independent contractor and understand the relief available to employees who misclassify
- Understand the withholding requirements for FICA and federal income taxes for Forms W-2 and 1099, including back-up withholding
- Examine employer requirements regarding Form W-4
- Understand the gig economy and the payroll tax responsibilities associated with it
Highlights
- Coverage of the Inflation Reduction Act of 2022
- Statutory employees, independent contractors, and possible changes to §530 relief
- Using SS-8
- Payroll Tax Penalties -- Who is a responsible person?
- Forms W-2, 1099, 1099-NEC, SS-8, W-4, 941, and Form 940 reporting/deposit requirements and due dates
- Understanding payroll tax responsibilities in the gig economy
Designed For
CPAs in public accounting and industry with responsibility for payroll tax compliancePrerequisite
NoneAdvanced Preparation
None