Preparing for Year End 2022 and Year Beginning 2023
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Date
Dec 02, 2022 -
Time
13:00 PM EST -
Duration
90 Min
Overview:
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.
Background:
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 2023 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—including COVID-19 reporting
changes to Form W-2.
Session Highlight:
·
Latest update on the Form W-4 for
2023!
· 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 2023
· Changes to Form W-2 for 2022
· 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 2022
· Verifying employee names and SSN’s
· Review of filing deadlines
· Third Party Sick Pay reporting
Who Should Attend:
· All Employers
· Business Owners
· Executive Officers
· Company Leadership
· Compliance Professionals
· Payroll Professionals
· HR Professionals
· Accounting Professionals
· Operations & Departmental Managers
· Managers/Administrators/Supervisors/Practitioners
· 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.
Ask your question directly
from our expert during the Q&A session following the live event.
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 instructor for the American Payroll Association’s “PayTrain” online program offered by Brandman University.
1.50 HRCI Credit Hours (Approved)