Payroll Year-End 2021: Reporting Requirements, Changes and Best Practices
Many taxation changes in 2021 created new challenges for Payroll professionals. Additional and extended COVID-19 Relief programs such as the COBRA Premium Subsidy, Child Tax Credit, Employee Retention Tax Credit and The Families First Coronavirus Response Act into 2021 will require additional planning and reporting at year-end.
Now is the time to get up-to-date and start planning for a stress-free process. Join us for this 60-minute workshop that highlights the latest updates and sets you up for success as you close the books for 2021 and enter 2022. Attendees will learn:
- Changes and additional reporting requirements to the 2021 Form W-2
- Reporting of the Employee Social Security Deferral repayments on W-2c’s
- The possible impact to Federal Unemployment Taxes (FUTA) resulting from the financial burden of State Unemployment resources
- 2022 Form W-4 updates employers need to know
- Best Practices for communicating W-2 information, changes, and processes
Between the latest form updates and the changes brought about by the Relief response to the COVID-19 pandemic, don’t wait till the last minute to process your year-end payroll. This workshop will give you all the tools and information you need to end 2021 in compliance and get 2022 off to the right start.
Payroll in 2021: Know the Changes & Be Prepared
- Changes to the 2022 Form W-4
- Effective communication tips – help employees understand their W-2
- Year-end best practices: checklist for your payroll reporting
Understand the Payroll Form & Reporting Changes: Stay IRS Compliant
- How the COVID-19 relief and tax credits will impact year-end reporting
- Federal Unemployment Tax (FUTA) credit reductions state list
- Gathering, calculating, and reconciling W-2s: A step-by-step guide
What Your Payroll Department Needs to Do Now!
- W-2 Box 12 Reporting – make sure earnings and deductions are “mapped” to the correct Code
- Trust but verify – how is your payroll provider handling reporting changes?
- Helpful tools from the IRS website
About the Speaker
Tricia Richardson, CPP, SPHR, SHRM-SCP provides clients with direct payroll assistance, information, education, consultation, and even empathy, in her role as a Consultant.
Tricia has more than 25 years of experience in all aspects of workforce management (payroll processing, taxation, employee handbooks, human resources, benefits, etc.). Tricia is a Payroll and Human Resource “nerd” who enjoys reading Internal Revenue Code.
- Tricia has a Bachelor of Science in Management Studies from the University of Maryland University College. She is a Certified Payroll Professional (CPP) through the American Payroll Association (APA), a Senior Professional in Human Resources (SPHR) through the HR Certification Institute, as well as a Society for Human Resource Management Senior Certified Professional (SHRM-SCP).
- Tricia is a Member of the National Speakers Bureau for the American Payroll Association and a Contributing Writer to Paytech Magazine, a regular periodical provided to over 20,000 Members.
- For the Susquehanna Valley Chapter of the American Payroll Association, Tricia has taught for both the Payroll and Human Resource Certification Study Groups and has served as both the Vice President and President of the Chapter. She also served on the Program Committee of the Human Resource Professionals of Central PA and as the Treasurer of a York County Pennsylvania Non-Profit Association.
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!