VIRTUAL ONLY: The Complete Guide to Payroll Taxes and 1099 Issues

Description

Employment taxes are often overlooked as an area where more planning may be effective. Payroll taxes have become an increasing burden for the average business and IRS penalties for noncompliance have risen dramatically in recent years. They have also been subject to employer incentives. The Service has announced that uncovering noncompliance by employers ranks high on its audit list. This course presents a comprehensive overview of federal payroll taxes, Form 1099, and related compliance issues.

Highlights

  • Payroll tax requirements for wages, including wages subject to the .9 percent tax, employee benefits and reimbursements, nonqualified deferred compensation, stock options, and tips Fringe benefits issues, such as health insurance, life insurance, cafeteria plan benefits, accountable and non-accountable plans, standard mileage rates, and per diem rates Special issues -- Using a common paymaster, how to file W-2s after a takeover, merger, or acquisition, and state and local tax withholding Statutory employees, independent contractors, and possible changes to 530 relief Penalties -- Who is a responsible person? Moving expenses and gross-up calculations Form 941 issues and problems, such as disability benefits, tip income, and deceased employees Pension issues and payroll taxes including SIMPLE plans, and 401(k) and pension distributions The Electronic Federal Tax Payment System (EFTPS) * Forms I-9, W-9, W-2, 1099, SS-8, and Form 940

Objectives

  • Distinguish an employee from an independent contractor and understand the relief available to employees who misclassify Understand how to complete Forms W-2, 1099-MISC, 1099-R, and SS-8 Comply with the quarterly and annual reporting for employment tax deposits

Designed For

CPAs in public accounting and industry with responsibility for payroll tax compliance.



Leaders

Curtis Quickel

Curtis is an individual practitioner in Fayetteville, Arkansas. Since 1998, he has traveled the US teaching Continuing Professional Education courses for the AICPA and others. Before establishing his own practice, he worked several years in industry as a Corporate Controller. After 9/11 Curtis spend 9 years on Active Duty with the US Army completing three combat tours to Afghanistan, Iraq and Kuwait. Curt retired as a Lieutenant Colonel in 2013 with a total of 33 years of Active and Reserve service. He is a Past President of the Central Chapter of the Arkansas Society of CPAs and Past Chairman of the Industry and Commerce Committee. Curt is a past recipient of the Arkansas Society of CPAs Outstanding CPA in Government Award.