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Overview:

The IRS provides updated tax rates and changes how taxable income is calculated each year. This year changes will more significant than in the past several due to Tax Reform and the continued changes that affect the new form W-4 and tax calculations in 2023. This webinar will assist the seasoned payroll professional on new legislation that need to be considered. This webinar will also assist the beginner around W-2 processing W-2 to understand all the boxes on the form W-2 and what should be reported. A brief overview of year end and W-2 best practices will also be discussed.

 

Areas covered in this Training:

· W-2 Requirements
· W-2 box by Box review and details
· Updated legislation to consider for W-2 and 2024
· State by State discussion of special W-2 considerations
· Year End and W-2 best Practices
· Taxation in 2023 and 2024
· New year legislation for 2024
· Details of how to close the 2023 year to make sure your W-2’s are correct
· How to make sure 941 reconciliation happens correctly.
· State specific W-2 reporting and what you need to know
· Most up to date legislation releases

 

Why Attend this Training:

We will provide example of check lists that should be prepared for each year end to assist in a smooth transition. We will also provide updates for calendar year 2024 on such items as social security wage base, deferred compensation limits, mileage rates and Forms W-2 and 941. We will discuss how to work throughout the year to collect information from accounts payable for year-end instead of trying to obtain all the information in December. We will demonstrate how this helps smooth out the year end processing and relieve year end stress for both departments.  We will provide the basis for a year end memo to help payroll departments inform the company’s employees of what lies ahead for the upcoming year to help curtail questions during this hectic time for payroll. There will be review of new W-2 reporting deadlines and penalties and updates to how we process the W-2 form.

 

Suggested Attendees:

· Payroll Professionals
· Human Resources Managers
· Accounting Personnel
· Business Owners
· Attorneys/ Legal Professionals

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