Nashville Account Fest: Guide to Payroll Taxes and 1099 Issues
469 | Course | Basic | Scheduled
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. As a result, 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 an overview of employee versus independent contractor criteria, the federal payroll taxes form, Form 1099 and related compliance issues.
A Live Stream version of this event is available here.
|Number of Credits||Type of Credits|
CPAs in public accounting and industry with responsibility for payroll tax compliance
- Statutory employees, independent contractors, and possible changes to 530 relief
- Using SS-8
- The CARES Act and employer responsibilities for Form 941
- Payroll Tax Penalties - Who is a responsible person?
- Forms W-2, 1099, SS-8, W-4, 941 and Form 940 reporting/deposit requirements and due dates
- Understanding payroll tax responsibilities in the gig economy
- Coverage of the Inflation Reduction Act of 2022
- Distinguish an employee from an independent contractor and understand the relief available to employees who misclassify
- Understand the withholding requirements for FICA and federal income taxes for Forms W-2 and 1099, including back-up withholding
- Comply with the quarterly and annual reporting for employment tax deposits before and after the CARES Act
- Examine employer requirements regarding Form W-4
- Understand the gig economy and the payroll tax responsibilities associated with it
- Member (Early Bird)
- Non-Member (Early Bird)
William F. Taylor, CPA
Bill is President of Benefit Solutions, Ltd., a benefit consulting firm, and a CPA in private practice. Since retiring as Community Bank President of Renasant Bank in Water Valley, MS. he has served as an Adjunct Assistant Professor in the MBA program at the University of Mississippi. Bill has worked in the employee benefit and investment fields for over 20 years, beginning his career as the Employee Benefits Coordinator in the Jackson, MS office of KPMG Peat Marwick and managing his own firm since 1999. A nationally known consultant and speaker, Bill has conducted seminars for the Association of International Certified Professional Accountants, the American Society of Pension Professionals and Actuaries, more than 40 state CPA and Bar associations and other organizations. Bill is the author of Taxation of Employee Benefits Volume I and Volume II, and his articles have appeared in numerous publications. Bill has been the recipient of the Association's Outstanding Facilitator Award on multiple occasions.Back to Instructors