Surgent's The Complete Guide to Payroll Taxes and 1099 Issues
Online
8.00 Credits
Member Price $279.00
Non-Member Price $404.00
Overview
Employment taxes are often overlooked as an area where more planning may be effective. Payroll taxes have become an increasing burden for the average business, and IRS penalties for noncompliance have risen dramatically in recent years. They have also been subject to employer incentives. The Service has announced that uncovering noncompliance by employers ranks high on its audit list. This course presents a comprehensive overview of federal payroll taxes, Form 1099, and related compliance issues.
Objectives
- Distinguish an employee from an independent contractor and understand the relief available to employers who misclassify employees
- Understand what is needed to complete Forms W-2, 1099-MISC, 1099-R, and SS-8
- Understand the gig economy and the payroll tax responsibilities associated with it
Highlights
- Payroll tax requirements for wages, including wages subject to the .9 percent tax, employee benefits and reimbursements, nonqualified deferred compensation, stock options, and tips
- Fringe benefits issues, such as health insurance, life insurance, cafeteria plan benefits, accountable and non-accountable plans, standard mileage rates, and per diem rates
- Special issues -- Using a common paymaster, how to file W-2s after a takeover, merger, or acquisition, and state and local tax withholding
- Statutory employees, independent contractors, and possible changes to §530 relief
- Penalties -- Who is a responsible person?
- Expenses and gross-up calculations
- Pension issues and payroll taxes including SIMPLE plans, and §401(k) and pension distributions
- The Electronic Federal Tax Payment System (EFTPS)
- Forms I-9, W-9, W-2, 1099, 1099-NEC, SS-8, and 940
- Understanding payroll tax responsibilities in the gig economy
Designed For
CPAs in public accounting and industry with responsibility for payroll tax compliance
Prerequisites
None
Preparation
None
Notice
To access this program, log into your CTCPA account at https://www.ctcpas.org/my-cpe/upcoming and click on the orange “Launch Event” button.
Leader(s):
Leader Bios
Deborah Phillips, Surgent McCoy CPE, LLC
Deborah A. Phillips, CPA, MST, operates her own tax controversy practice where she specializes in partnership and S corporation tax law as well as IRS audits and procedures. Debbie has been very successful petitioning and resolving tax issues under the jurisdiction of the United State Tax Court. She is proficient in the Section 199A provisions and computations as well as all aspects of the Tax Cuts and Jobs Act of 2017. She works with various CPA firms during tax season preparing all types of tax returns. In addition, she utilizes her forensic accounting skills for tax preparation of clients involved in potential IRS criminal prosecution. Debbie retired from the Large Business and International Division (LB&I) of the Internal Revenue Service (IRS), where she was a Senior Manager in the Flow Through Issue Practice Group (IPG). The IPG specializes in S corporation and partnership tax issues for LB&I. Debbie worked for the IRS for over 32 years. She has extensive accounting and taxation knowledge of individual, corporate, and partnership federal tax returns. She was the Operations and Technical Assistant to the Deputy Commission International, the Technical Assistant to the Director of PFTG, a Territory Manager in the Retail, Food and Pharmaceuticals Industry, a Team Manager in the Heavy Manufacturing Industry, and the IRC Section 263A Technical Advisor. Debbie taught graduate and undergraduate courses in accounting and taxation as an adjunct faculty member at Delaware State University, Wilmington College, and Goldey-Beacom College. She has been a seminar presenter for approximately 20 years as well as a textbook author. In 2015 through 2018, she received the Surgent Outstanding Discussion Leader Award because of her consistently high evaluations for knowledge and presentation skills. Debbie earned her master’s degree in taxation from Widener University.
Non-Member Price $404.00
Member Price $279.00