Description
The IRS provides updated tax rates and changes how taxable income is calculated each year. 2021 has seen additional updates employers and payroll departments need to know. This webinar will assist the seasoned payroll professional on new legislation that needs to be addresses.
This webinar will also assist the W-2 new comer 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. Updates on how to handle the SSN truncation especially for the states. Review of reconciliation process for W-2’s considering the COVID-19 credits.
Areas covered in this webinar:
- Form W-2 Reporting of FFCRA Qualified Leave and the extension of those credits into 2021
- How to handle the state requirements of the SSN truncation rules from the IRS on the Form W-2.
- Updates to how we process the W-2 form.
- Understanding when to check the status boxes for such things as retirement
- 2021 W-2 updates
- Updated legislation impacting the 2021 Form W-2
- How to report FFCRA leave on the W-2
- Understanding the changes to Social Security taxation
- W-2 requirements for 2021 reporting
- Form W-2 box by box review
- Understanding the new W-2 codes
- State by State discussion of special W-2 considerations
- Year End and W-2 best Practices to ensure compliance
- Complete an audit of Form W-2 before releasing to employees
- Validate that all totals match between the 941 and the W-3/W-2
Who should attend:
- Human Resources Professionals
- Small Business Owners
- Payroll Professionals
- Attorneys
- Accounting Professionals
- Consultants