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Payroll Taxes and 1099 Issues: Everything You Need to Know

Author/Moderator: Beth Stenberg, CPA
Publisher: AICPA
Availability: Online Access
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This CPE course is designed to provide you with practical pointers for managing the payroll tax and reporting function. Learn how to avoid the frequent penalties in payroll tax reporting and stay up-to-date with the latest information. It also shows how to handle reporting and withholding requirements for employee fringe benefits. Master the often confusing rules for Form 1099-MISC and other information reports including when and how much to report. Make sure you or your clients are in compliance and not subject to IRS penalties!

Topics Discussed:

  • Update on new changes made to payroll tax legislation for the current year including changes in health care laws
  • Review of various websites, forms, publications and other payroll and benefit tax resources
  • Properly reporting payroll withholding for various types of compensation
  • Understanding the 20 Factor Test for employee classification
  • Section 530 relief for employers with worker classification issues
  • Reporting requirements on a quarterly and annual basis
  • Understanding New Hire Reporting and latest changes in I-9
  • Reporting to verify employee identity and work eligibility
  • Forms W-2 and W-3 Issues
  • How to properly classify employee benefit tax liabilities

Learning Objectives:
When you complete this course, you will be able to:

  • Recognize how to prepare timely and accurate wage and tax reports.
  • Identify how to make timely and accurate payroll tax deposits and payments.
  • Correctly classify employees and independent contractors for payroll tax purposes.
  • Identify how to address payroll tax issues involving fringe benefits and their valuation.
  • Identify and properly withhold for statutory employees and statutory non-employees.
  • Recognize how to comply with information reporting including the various 1099 Forms and Form W-2.
  • Identify how to properly report required information for new hires and obtain required information on work eligibility and identity.
  • Recognize how to properly report back employee wages and back-up reporting of independent contractors.
  • Determine taxable vs. tax free compensation.

Who Will Benefit?

  • CPAs in industry and public accounting responsible for the payroll tax function
  • CPAs advising clients on payroll tax issues

Prerequisite: Working knowledge of payroll tax issues or payroll type functions

Advanced Preparation: None

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NASBA Field of Study: Taxes
Level: Intermediate
Recommended CPE Credit: 19
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