Payroll Taxes: Your Comprehensive Guide for Compliance Webinar

To provide CPAs in practice and industry with the knowledge and skills to guide employers on meeting payroll tax withholding requirements for employees and independent contractors, while protecting themselves against IRS penalties. In addition, this webinar will ensure that you’re up to speed on employer responsibilities regarding payroll tax computations, deposit periods, deposit dues dates, and the handling and filing of proper payroll tax forms.

• Identifying staff members as employees or independent contractors
• Wages subject to federal income tax withholding, FICA, Medicare and FUTA
• Tax responsibilities associated with independent contractors, and when back-up withholding may apply
• Payroll tax computations, deposit periods, deposit dues dates, and the collecting and filing of proper payroll tax forms (W-4, W-9, etc.)
• Trust Fund Recovery Penalties leveled by the IRS against CPAs
• Steps to defend yourself, and your clients, from aggressive attempts by the IRS to collect delinquent payroll taxes

To provide CPAs in practice and industry with the knowledge and skills to guide employers on meeting payroll tax withholding requirements for employees and independent contractors, while protecting themselves against IRS penalties. In addition, this webinar will ensure that you’re up to speed on employer responsibilities regarding payroll tax computations, deposit periods, deposit dues dates, and the handling and filing of proper payroll tax forms.

DETAILED LEARNING OBJECTIVES

• Recognize the different payroll taxes subject to withholding

• Recognize those wages subject to payroll tax withholding

• Identify the time threshold for the exclusion of sickness and disability payments for Social Security and FUTA tax purposes 

• Identify the employer’s reporting ramifications of employee business expense reimbursements paid under an accountable plan

• Identify the characteristics of employee fringe benefits excludible from wages and payroll tax withholding

• Recognize the components and limitations of both FICA and Medicare taxes

• Recognize the different types of statutory nonemployees

• Identify the motivations behind an employer’s preference for independent contractor status over common law employee

• Identify the factors indicating an independent contractor relationship versus an employee

• Identify the payment threshold triggering the issuance of a Form 1099 – NEC 

• Recognize a payer’s responsibility when a worker does not provide a valid TIN 

• Recognize a payer’s timeframe within which they must begin backup withholding after receiving notice from the IRS

• Identify the monetary threshold for semiweekly deposits of withheld payroll taxes 

• Identify an employer’s deposit deadline for submission of withheld payroll tax liabilities

• Recognize the penalties applicable to an employer that is late on depositing payroll tax liabilities

• Recognize the penalties applicable to an employer that is late or fails to file information returns

• Identify the course developer’s recommended timing for securing an independent contractor’s Form W-9

• Identifying staff members as employees or independent contractors
• Wages subject to federal income tax withholding, FICA, Medicare and FUTA
• Tax responsibilities associated with independent contractors, and when back-up withholding may apply
• Payroll tax computations, deposit periods, deposit dues dates, and the collecting and filing of proper payroll tax forms (W-4, W-9, etc.)
• Trust Fund Recovery Penalties leveled by the IRS against CPAs
• Steps to defend yourself, and your clients, from aggressive attempts by the IRS to collect delinquent payroll taxes