Payroll Taxes: Your Comprehensive Guide for Compliance Webinar
Overview
Payroll tax laws are complex, and the penalties for not complying are steep. Failure to properly withhold can result in costly fines for employers, and Trust Fund Recovery Penalties against CPAs whose clients fail to remit monies. Learn the best ways to protect yourself—and your clients—from penalties, and get expert advice on proper filing procedures from a former IRS Senior Manager. This critical webinar will:
- Define what wages are subject to federal income tax withholding, FICA, Medicare and FUTA
- Review tax responsibilities associated with independent contractors, and when back-up withholding applies
- Explain the payroll tax computations, deposit periods and dues dates, and proper payroll tax forms that need to be collected and filed
- Provide a thorough breakdown of IRS Trust Fund Recovery Penalties against CPAs for failure to properly remit and comply
- Prepare you to defend yourself against aggressive positions taken by the IRS, in order to collect delinquent payroll taxes unpaid by your clients
This course qualifies for IRS Continuing Education Credit.
Objective
To provide CPAs in practice and industry with the knowledge and skills to guide employers on meeting payroll tax withholding requirements for employees and independent contractors, while protecting themselves against IRS penalties. In addition, this webinar will ensure that you’re up to speed on employer responsibilities regarding payroll tax computations, deposit periods, deposit dues dates, and the handling and filing of proper payroll tax forms.
Emphasis
- Identifying staff members as employees or independent contractors
- Wages subject to federal income tax withholding, FICA, Medicare and FUTA
- Tax responsibilities associated with independent contractors, and when back-up withholding may apply
- Payroll tax computations, deposit periods, deposit dues dates, and the collecting and filing of proper payroll tax forms (W-4, W-9, etc.)
- Trust Fund Recovery Penalties leveled by the IRS against CPAs
- Steps to defend yourself, and your clients, from aggressive attempts by the IRS to collect delinquent payroll taxes
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