Description

This presentation is a thorough recap of compliance issues and requirements for payroll s 2010 Year End closing and the latest information for preparing the payroll department for a successful 2011.

Areas Covered in the Seminar:

Why you cannot use magnetic media in 2010 to submit to SSA but may have to use to submit to the state.
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, the demise of advanced earned income credit and more.
How to create a 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.
Best practices for gathering, calculating and reconciling W-2 data.
Taxation of fringe benefits at year end including awards and prizes, moving expenses, personal use of company cars and gift certificates.
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 2010.
Review of filing deadlines.
2011 changes to Form W-2 including the Affordable Health Care Act