Payroll Taxes 101: Withholding, Depositing & Reporting Requirements
Accurate payroll tax withholding is just the beginning - they must also be paid, reported and reconciled. Unfortunately, failing to comply with the complex employment tax rules results in severe penalties.
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!
- Introduction to the federal tax system
- Critical reporting requirements for payroll
- Steps for obtaining an EIN and why you need it
- Guidelines for withholding federal income tax
- Keys to handling tricky supplemental wage issues
- Understanding FICA Taxes: OASDI and Medicare
- The Additional Medicare Tax and when it applies
- Special tax rules for nonresident aliens on visa
- Who is subject to FUTA tax – and how to calculate it
- FUTA tax: current rate and wage base
- Definition of Successor employers and who it impacts
- Clear explanation of rules for Common Paymaster
- Penalties and cost for noncompliance
About the Speaker
Vicki M. Lambert, CPP, is President and Academic Director of The Payroll Advisor with over 35 years of hands-on experience in all facets of payroll functions. 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.
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!
Premier Learning Solutions 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.
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