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Payroll Year End: W-2 And Proper Year End Reconciliation

payroll-year-end-w-2-and-proper-year-end-reconciliation
Webinar: ID# 1038560
Recorded On-Demand
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About This Course:
Dreaded year-end is approaching; the busiest time for the Payroll Department. And due to Tax Reform, this year's changes will be more significant than in the past.

Now is the time to start planning and getting yourself organized so that the entire process will be smooth and stress free, and this training session will help!

This webinar will update payroll professionals on the new legislation that they need to be prepared for, as well as provide an overview on W-2 processing, reporting deadlines, and penalties.
What You'll Learn:

During this session we will discuss the year end process from start to finish, including:

  • Details of how to close the 2019 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
  • Calculating tax in 2022 - and what the new form W-4 tells us
  • State specific W-2 reporting - and what you need to know
  • W-2 Requirements
  • Updated legislation to consider for W-2 and 2022
  • State-by-state discussion of special W-2 considerations
  • Year End and W-2 best Practices
  • New year legislation activity and new fringe benefit limits

We'll also cover typical year end questions from employees - and how to head the common ones off at the pass to save time for your staff and yourself.

Top FAQs

While many payroll-related regulations are federally-governed, there also are many state requirements, including those for handling garnishment, final paychecks, and unclaimed paychecks. Each state's requirements differ in the details, so be sure to check your state's requirements by clicking the applicable link(s) at the bottom of this page.
Time clocks, time sheets, and electronic methods are a couple ways to track hours worked.
Payroll is much more than just handing out paychecks, and includes a variety of responsibilities such as handling garnishments, travel pay, multi-state taxation, unclaimed paychecks, and much more in a timely and accurate fashion.
Payroll Administrators must be able to:
  • Properly "classify" workers
  • Apply the various exemptions
  • Calculate gross pay and properly make deductions
  • Correctly identify, pay, and withhold taxes for employees
  • Administer deferred compensation, cafeteria plan, sick pay, and other compensation
  • Handle stock options, expense reimbursements, relocation, and other "expenses"
  • Follow the proper policies, procedures, and documentation requirements for garnishments and levies
  • Properly complete and file all required reporting requirements
  • Correctly complete year-end requirements and establish year-beginning requirements
  • Implement and maintain fraud, audit, disaster recovery, and record retention processes and procedures
Maintaining accurate payroll records, such as hours worked, pay, and tips and tax amounts, obeying federal and state rules, and submitting required reports on a timely basis.
In business since the mid-1990's, we have over 25 years of experience delivering high-quality training content via seminar, webinar, online, and other formats. Each of our courses are delivered by an industry expert who will share his or her years of experience to help you be in compliance, smarter, and more productive, and almost all offer SHRM and HRCI credits.
In addition to ensuring that employees are paid correctly and on time, "Payroll" has numerous time and reporting requirements. The primary payroll areas include paychecks, reporting, operations, and management.
Continuing Education Credits:

Click the 'Credits' tab above for information on PHR/SPHR, PDCs, and other CE credits offered by taking this course.
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Payroll Year End: W-2 And Proper Year End Reconciliation
Available 1:00pm till 2:30pm EST or via On-Demand
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