How can you be sure you are compliant with IRS, Affordable Care Act (ACA), and other regulations? This is a critical time of year because under the Affordable Care Act, employers' payroll systems need to be equipped to handle employee-share withholdings and to record payments on an information return.
Also, as paid sick leave mandates continue to take the nation by storm, organizations must ensure that their payroll systems are equipped to track hours (even for salaried workers) and accrue appropriate minimum sick leave.
And, the timely and accurate reporting of payroll tax returns is critical. Failure to file W2s and to give them to workers can result in per-item penalties from $30 to $100. Additionally, continued failure to file 1099s and 1096s can result in total penalties of between $250,000 and $1.5 million.
Finally, how do bonuses, holiday gifts, and other compensation factor into annualized payroll taxes? How much could you owe in IRS penalties if you fail to accurately factor such payments into employees' total compensation? And, how can you ensure the accurate calculation of nondiscretionary bonuses to properly account for overtime pay?
This is frequently overlooked, and can result in audits for overtime compliance as well as payroll tax compliance.
Objectives of the Presentation
Why Should you Attend
- The impact of tax rate changes
- What the new DOL overtime rules mean for your workers, and your budget
- Unemployment insurance rates, federal and state, income tax withholding rates, and many other withholding rates, which change each year, and sometimes more than once
- Where to get quick information on state SUTA and SIT rates, as well as other rules in the states where you operate
- How to communicate with your employees about payroll changes
- How bonuses are taxed …. And much more!
Attend this webinar to have a better understanding of how to make sure all your 2017 payroll tax administration practices and forms comply with current requirements.
Who will Benefit
- Payroll Department
- Accounting Department
- HR Department
- Small to Medium Sized Business Owners
- Payroll Apprentices
- Start up Entrepreneurs