The IRS provides updated tax rates and changes how taxable income is calculated each year.
This year's changes will be more significant than in the past, due to Tax Reform. 2021 has seen additional updates employers and payroll departments need to know. The continued changes that affect the new Form W-4 and tax calculations in 2022 will be significant. This webinar will assist the seasoned payroll professional on new legislation that needs to be addressed.
This webinar will also assist the beginner around W-2 processing plus to better understand all the boxes on the Form W-2 and what should be reported. A brief overview of year-end and W-2 best practices will also be discussed. Updates on how to handle the SSN truncation especially for the states. Review of the reconciliation process for W-2’s considering the COVID-19 credits.
Areas Covered in this Training
-Form W-2, W-2 requirements for 2021 reporting and Filing deadlines
-How to report FFCRA to leave on the W-2
-Form W-2 box by box review
-Understanding the new W-2 codes
-Understanding the changes to Social Security taxation
-State by State discussion of special W-2 considerations
-Complete an audit of Form W-2 before releasing it to employees
-Validate that all totals match between the 941 and the W-3/W-2
-Updated legislation impacting the 2021 Form W-2 and Updated legislation to consider for W-2 and 2022
-Year-End and W-2 best Practices to ensure compliance
-New Year legislation activity and new fringe benefit limits
Why Attend This Training
By attending this webinar, you will get to learn about
-Form W-2 Reporting of FFCRA Qualified Leave and the extension of those credits into 2021
-How to handle the state requirements of the SSN truncation rules from the IRS on the Form W-2.
-Updates to how we process the W-2 form
-2021 W-2 updates
-Understanding when to check the status boxes for such things as retirement
-Details of how to close the 2021 year to make sure your W-2’s are correct and 941 reconciliation happens correctly.
-Review box by box of the W-2 and how tax reform has changed W-2 reporting.
-State-specific W-2 reporting and what you need to know
Duration: 60 minutes
-Payroll Tax Professionals
-Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues
You may ask your Question directly to our expert during the Q&A session.
Dayna is currently the Director of Payroll Operations at Ann & Robert Lurie Children’s Hospital of Chicago. Dayna has been heavily involved in the payroll field for over 17 years. Starting as a payroll clerk at a small Tucson company, Dayna moved on to be a Payroll Team Leader at Honeywell Inc. During Dayna’s time at Honeywell she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. She also received several merit awards for Customer Service and Acquisitions and Divestitures.
Dayna is no stranger to teaching she has taught at the Metro Phoenix American Payroll Association meetings and at the Arizona State Payroll Conference. Topics including Payroll Basics, Global/Cultural Awareness, Immigration Basics for the Payroll Professional, Multi-State and Local Taxation and Quality Control for Payroll, International and Canadian payroll. Dayna has her CPP (Certified Payroll Professional) through the APA. She also serves on the National American Payroll Association on the National Strategic Leadership Task Force, Government Affairs Task Force (PA Local tax subcommittee). Dayna has received a Citation of Merit for her service along with being a Gold Pin member of the APA. Besides her payroll accomplishments, Dayna is certified in HR hiring and firing practices and is a Six-Sigma Greenbelt.
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