Guide to Payroll Taxes and 1099 Issues WEBCAST
Overview
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. As a result, 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 an overview of employee versus independent contractor criteria, the federal payroll taxes form, Form 1099, and related compliance issues.
Highlights
Statutory employees, independent contractors, and possible changes to Schedule 530 relief. Using SS-8, Payroll Tax Penalties – Who is a responsible person? Forms W-2, 1099, 1099-NEC, SS-8, W-4, 941, and Form 940 reporting/deposit requirements and due dates. Understanding payroll tax responsibilities in the gig economy.
Prerequisites
None.
Designed For
CPAs in public accounting and industry with responsibility for payroll tax compliance.
Objectives
Distinguish an employee from an independent contractor and understand the relief available to employers who misclassify employees. Understand the withholding requirements for FICA and federal income taxes for Forms W-2 and 1099. including back-up withholding. Examine employer requirements regarding Form W-4. Understand the gig economy and the payroll tax responsibilities associated with it.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Arthur Auerbach, AICPA Learning
Arthur Auerbach, CPA, is a sole practitioner specializing in planning for individuals and closely-held corporations. He is the former chairman of the Federal Taxation Committee of the District of Columbia Institute of CPAs and serves as a member of that committee. He was also a member of the Board of Governors of the District of Columbia Institute of CPAs. Auerbach was formerly an editor for the Research Institute of America and a tax partner for a large regional CPA firm. His 38 years of experience also includes a position as an adjunct assistant professor at Pace University in New York where he taught intermediate and cost accounting. He has written many articles and is co-author of several books. He holds a BBA from Pace University.
Non-Member Price $200.00
Member Price $175.00