Best Practices for Payroll Taxes and 1099 Issues

You Pay: $379.00
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This course is 8.00 credits
Instructor
Robert Thelen
Facility Name
Crowne Plaza Natick The Verve
Facility Address
1360 Worcester St
Natick, MA 01760-1514
Field of Study
Tax
Course Level
Intermediate
Vendor
American Institute of CPAs

Instructor

Robert Thelen

Mr. Thelen, CPA was president, CEO and sole shareholder of a financial services company from 1992 through 2008. The company was heavily involved with income tax returns, payroll preparation and reporting, pension plan administration and compliance, retirement and individual financial planning, life, health and property/casualty insurance planning and sales, and representing clients before taxing agencies. Before that he was a manager in the tax department of a large regional CPA firm. He started his professional career as a Revenue Officer and then a Tax Auditor with the Internal Revenue Service from 1980 through 1989. Bob holds a Masters of Pastoral Ministry from Saint John’s University School of Theology. He received his Bachelors of Arts degree from Metropolitan State University. Bob is also the current Mayor of Cold Spring, MN. He is a member of the MNCPA and the AICPA.
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Registration Fees

MSCPA-AICPA Member
$249.00
MSCPA Member
$279.00
AICPA Member
$349.00
Non-Member
$379.00
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Wednesday, Nov 13, 2019
8:45am – 4:30pm

This 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! Course materials include the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law.

 

This seminar qualifies for the Workforce Training Express Fund program. The course code for this program is 1121342  Click here for more details: https://www.mscpaonline.org/cpe/training_fund

Designed For

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

Course Objectives

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.

Major Subjects

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

Prerequisites

Working knowledge of payroll tax issues or payroll type functions

Registrants

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