Overview:
Preparing for year-end should not begin in October or November as it may have in the past.
Preparation should begin in January and be conducted throughout the calendar year. This is
especially important now as the IRS is looking at year-end compliance issues. In this webinar we
will give the latest best practices to help your payroll department transition from a year end
crunch to a smooth and compliant year end process. We will discuss how check lists can help
keep you on track to ensure all tasks are completed. How a simple two-page memo can prevent
dozens of employee questions. We will cover how your duplicate Form W-2 request form and
procedures should be set up and in place in advance of issuing the forms and how it will assist
you when processing those requests in the upcoming year.
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. This
webinar will provide a sample of a form to request a duplicate Form W-2 that can be used by
the attendee in their own department as well as information on setting up the procedures for
requesting the form. 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.
We will also cover any late-breaking legislation/regulation changes.
Areas Covered in this Training:
· Latest update on the Form W-4 for 2024!
· Reconciliation of Form W-2 to Form 941 and why it must be done
· Update on year-beginning annual changes for social security wage base, fringe benefit
limitations, federal per diem allowance, standard mileage rate, qualified transportation
fringe benefits, and more.
· How to use the required year-end notice to update your employees for the coming year
· Best practices on organizing the payroll department for year-end including action item
check lists for Form W-2, Year end and Year beginning to ensure a smooth process
· How to handle duplicate requests for Form W-2 including charging fees
· Status review of Publication 1494 for 2024
· Changes to Form W-2 for 2023
· Best practices for gathering, calculating and reconciling W-2 data all year long as is now
expected by the IRS
· Taxation of fringe benefits for year-end including awards and prizes, personal use of
company cars and gift certificates
· Latest update on white-collar exemptions
· Electronic delivery of W-2s to employees
· When to use the Form W-2c and when to correct the W-2 itself
· State regulatory changes affecting payroll including SUI wage bases, minimum wage
increases and more
· Review of EFW-2 record changes for tax year 2023
· Verifying employee names and SSN’s
· Review of filing deadlines
· Third Party Sick Pay reporting
Why Attend This Training:
This webinar concentrates on preparing the department for the end of the calendar tax year
and the new year processing. Topics include reconciling, completing and submitting Form W-2
federal and state; update to annual changes from the IRS, SSA, DOL and on the state level; and
best practices that will help make the year-end and year beginning go smoother.
Suggested Attendees:
· Payroll Executives/ Managers/ Administrators/ Professionals/ Practitioners/ Entry Level
Personnel
· Human Resources Executives/ Managers/Administrators
· Accounting Personnel
· Business Owners/ Executive Officers/ Operations and Departmental Managers
· Lawmakers
· Attorneys/ Legal Professionals
· Any individual or entity that must deal with the complexities and requirements of
Payroll compliance issues for Year End closing and preparing for the upcoming year.
You may ask your Question directly to our expert during the Q&A session
Vicki Lambert
Vicki M. Lambert, CPP, is President and Academic Director of The Payroll Advisor™, a firm specializing in payroll education and training. The company’s website www.thepayrolladvisor.com offers a payroll news service which keeps payroll professionals up-to-date on the latest rules and regulations.
With nearly 40 years of hands-on experience in all facets of payroll functions as well as over three decades as a trainer and author, Ms. Lambert has become the most sought-after and respected voice in the practice and management of payroll issues. She has conducted open market training seminars on payroll issues across the United States that have been attended by executives and professionals from some of the most prestigious firms in business today.
A pioneer in electronic and online education, Ms. Lambert produces and presents payroll-related audio seminars, webinars, and webcasts for clients, APA chapters, and business groups throughout the country. Ms. Lambert is an adjunct faculty member at Brandman University in Southern California and is the creator of and instructor for their Practical Payroll Online program, which is approved for recertification hours by the APA. She is also the instructor for the American Payroll Association’s “PayTrain” online program also offered by Brandman University.
SHRM -
StandEagle is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.5 PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit - portal.shrm.org.
HRCI -
This webinar has been approved for 1.5 HR (General) re-certification credit hours toward California, GPHR, HRBP, HRMP, PHR, and SPHR recertification through the HR Certification Institute.
The use of this seal is not an endorsement by the HR Certification Institute of the quality of the activity. It means that this activity has met the HR Certification Institute’s criteria to be pre-approved for re-certification credit.
ACCREDITATIONS
