This four-part webinar is presented with the cooperation of PAYROLLORG (Formerly American Payroll Association)
.jpg "payrollorg-(1).jpg")
Are you responsible for U.S. payroll?
If so, U.S. Year-end is THE essential seminar that guides you through American payroll Year-end preparation in just one day.
By attending, you can reduce the risk of non-compliance penalties and have confidence in handling Federal, State, and local payroll regulations.
Each session is instructed by experts from PayrollOrg, the leading source of U.S. payroll compliance information. They will help you take the guesswork out of all the American payroll complexity.
Each information-packed, webinar addresses the compliance issues of Year-end, including the latest changes in legislation that affect the close of 2023 and the beginning of 2024.
It is essential training that allows you to be proactive and can reduce stress during a busy time of year.
NEW FOR 2023:
- Aggregation of information returns for the lowered electronic filing threshold (Forms W-2, 1099 series, and ACA forms)
- Expansion of electronic filing for amended employment tax returns, including Form 941-X
- Updates on SECURE 2.0 Act
Who Should Attend?
Canadian payroll, human resources, systems, accounting, and finance professionals responsible for U.S. payroll operations and involved in year-end processing.
Note: This webinar will not be recorded
How to access your session:
Please make events@payroll.org a safe sender in your email program to ensure you receive emails from PayrollORG (formerly American Payroll Association).
You will receive an email containing the webinar link 24 hours prior to the event, and a reminder will be sent 15 minutes before the scheduled start time. If you do not receive the login information, please check your email SPAM folder.
LEARNING OBJECTIVES:
- Get the latest adjustments for 2024, including retirement plan contribution limits and SUI wage bases
- Understand how the lowered electronic filing threshold for information returns will impact your organization
- Be aware of an increase in potential FUTA credit reduction states
OUTLINE:
Year-End Preparation
- Year-end checklist, accumulators, and project plan
- Verifying social security numbers
- Social Security Administration’s changes to reporting
- IRS fights tax refund fraud
- Verification of employee data, reconciliations, and year-end notices
State Regulations Impacting Year-End
- State annual reconciliation return and magnetic media/electronic reporting
- State unemployment and disability wage bases
Annual Changes
- Social Security wage base
- Social Security/Medicare threshold for domestic employees and election workers
- Medicare tax rate
- Retirement plan changes
- Fringe benefit limitations
- Federal per diem and mileage rates
- Federal standard deduction
- Federal tax levies – Publication 1494
- Automobile rates
- Qualified transportation fringe benefit limits
- Information return and payee statement penalties
- Affordable Care Act annual adjustments
- Income exclusion for U.S. citizens living abroad
- Health Savings Account limits and definitions
Year-End Reporting and Taxation of Fringe Benefits
- Taxable fringe benefits
- Supplemental wages and grossing-up
- Group-term life insurance
- Awards, prizes, and gift cards
- Qualified transportation fringe benefits
- Loans to employees
- Deferred compensation
- Cafeteria and flexible benefit plans
- Nonqualified stock options
- Dependent care benefits
- Adoption assistance
- Overpayments and repayments
- Forms 1094-C and 1095-C, third-party sick pay, W-2 retirement plan check box, and health insurance reporting
Legislative and Regulatory Review
- Federal agency budgets and payroll impacts: what’s funded, what isn’t
- New lowered electronic filing threshold to take effect for 2024
- Status of IRS proposed regulations to lower the electronic filing threshold for information returns
- Update on retirement plan legislation (SECURE Act 2.0)
- Other proposed legislation
- Recent federal agency guidance and proposed regulations
- Court decisions providing clarity on payroll issues
Agency Initiatives
- Updates from the IRS, SSA, OCSS, and more federal agencies
Form Review and Revisions
- Form 941, Schedules B, D, and R
- Form 941-X
- Forms W-2 and W-2c
- Forms W-3 and W-3c
- Form 940
Please note that after registering online for this event, you will receive an email confirming your registration. Confirmation emails are sent approximately within 2 business days after the registration has been processed.
You will receive an email containing the webinar link 24 hours prior to the event, and a reminder will be sent 15 minutes before the scheduled start time.
Cancellations or Transfers: requests must be received in writing at least four (4) business days prior to the online seminar date. Please note a cancellation fee or transfer fee in the amount of $100 plus applicable taxes will be applied. Cancellation or transfer requests received after the login information has been provided are not eligible for a transfer or refund.