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Payroll Taxes 101: Withholding, Depositing & Reporting Requirements
On-Demand Recording
Summary
Accurate payroll tax withholding is just the beginning - they must also be paid, reported, and reconciled. Failing to comply with the complex employment tax rules can result in severe penalties for employers.
In our compliance-based, 60-minute program, payroll-expert Vicki Lambert covers the essentials of withholding, depositing, paying, and reporting payroll taxes. She’ll provide a solid foundation for the payroll beginner, plus an excellent refresher for the seasoned professional. Join us as we address key factors impacting accurate withholding including:
- Types of payroll frequency used by employers
- Ensuring correct information is provided on W-4s
- Taxable wage base and rate in effect for OASDI/social security taxes
- Medicare tax rate and when the Additional Medicare Tax applies
- Status of the employees such as nonresident alien or expatriate
- The wage base and rate for federal unemployment insurance/ FUTA
- And much more!
Understanding the Federal Tax System
- Introduction to the federal tax system
- Steps for obtaining an EIN and why you need it
- Special tax rules for nonresident aliens on visa
Payroll Reporting Requirements
- Critical reporting requirements for payroll
- Guidelines for withholding federal income tax
- Keys to handling tricky supplemental wage issues
Taxes and Calculations Guidelines
- Understanding FICA Taxes: OASDI and Medicare
- The Additional Medicare Tax and when it applies
- Who is subject to FUTA tax – and how to calculate it
- FUTA tax: current rate and wage base
Ensuring Accuracy & Compliance
- Definition of Successor Employers and who it impacts
- Clear explanation of rules for Common Paymaster
- Penalties and cost for noncompliance
Question & Answer Session – Have your specific question answered!
Program Benefits
Every payroll professional from the seasoned veteran to the novice beginner must have a good working knowledge of the requirements to process payroll efficiently and accurately to stay in compliance. Join our 60-minute event as we cover the basics of withholding, depositing and reporting federal taxes.
If you'd like this program customized for your organization, call us at 1-800-964-6033.
We're certain we can fulfill your training needs, while making it fit in your budget!
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HRCI CREDITS
This program has been approved for 1 (HR (General)) recertification credit hour toward aPHRTM, aPHRiTM, PHR®, PHRca®, SPHR®, GPHR®, PHRiTM and SPHRiTM recertification through the HR Certification Institute. Learn more at hrci.org
SHRM CREDITS
HRMorning is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP® or SHRM-SCP®. This program is valid for 1 PDCs for the SHRM-CP® or SHRM-SCP®. For more information about certification or recertification, please visit www.shrmcertification.org.
