2017 Payroll Tax Update – W-2s, Taxable Wage Limits, Benefit Maximums, Overtime Laws, ACA Forms and More

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In this important webinar presented by Mark Schwartz, will explain the latest payroll tax updates coming for 2017, including updates on W-2s, healthcare reporting, and more.

Ensuring payroll tax requirements are met for 2017 should be on every HR and compensation professionals’ minds right now.

How can you be sure you are compliant with IRS, Affordable Care Act (ACA), and other regulations? This is a critical time of year because under the Affordable Care Act, employers’ payroll systems need to be equipped to handle employee-share withholdings and to record payments on an information return.

Also, as paid sick leave mandates continue to take the nation by storm, organizations must ensure that their payroll systems are equipped to track hours (even for salaried workers) and accrue appropriate minimum sick leave.

And, the timely and accurate reporting of payroll tax returns is critical. Failure to file W2s and to give them to workers can result in per-item penalties from $30 to $100. Additionally, continued failure to file 1099s and 1096s can result in total penalties of between $250,000 and $1.5 million.

Finally, how do bonuses, holiday gifts, and other compensation factor into annualized payroll taxes? How much could you owe in IRS penalties if you fail to accurately factor such payments into employees’ total compensation? And, how can you ensure the accurate calculation of nondiscretionary bonuses to properly account for overtime pay?
This is frequently overlooked, and can result in audits for overtime compliance as well as payroll tax compliance.

Attend this webinar to have a better understanding of how to make sure all your 2017 payroll tax administration practices and forms comply with current requirements.

Areas Covered in the Session :

  • The impact of tax rate changes
  • What the new DOL overtime rules mean for your workers, and your budget
  • Unemployment insurance rates, federal and state, income tax withholding rates, and many other withholding rates, which change each year, and sometimes more than once
  • Where to get quick information on state SUTA and SIT rates, as well as other rules in the states where you operate
  • How to communicate with your employees about payroll changes
  • How bonuses are taxed …. And much more!

Who Will Benefit:

  • Payroll Department
  • Accounting Department
  • HR Department
  • Small to Medium Sized Business Owners
  • Payroll Apprentices
  • Start up Entrepreneurs

Mark Schwartz

Mark Schwartz has over 15 years experience in State and Federal payroll tax audits, collections and payroll consulting. As an auditor, Mark prided himself on his ability to educate his auditees on State and Federal payroll tax requirements. Whatever issues he found in audits, he ensured the auditee knew how to comply in the future. He worked to minimize company disruptions in the audit process.

Mr. Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Mark has represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting employees.

In recent years Mark has helped many clients with back payroll tax returns for all 50 states and the IRS. He has reviewed payroll journals, time records, tax forms and other payroll documents for accuracy and completeness.

Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.

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  • Recording access Information with Password to view the webinar, will be sent 24 hours after the completion of the Live webinar.
  • Presentation Handout in .pdf format
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