Payroll & Unemployment Tax Compliance: Mastering Amendments & Updates

Session 1: Amending W-2’s and 941’s | by Debbie Cash, CPP | 60 Mins | 1 IRS CPE Approved

Payroll taxes and employee tax forms are key aspects of operating any business. But even the best payroll offices are likely to mess up some W-2 or 941s. This is bound to invite penalties, fines, and headaches from correction, depending on when such mistakes are rectified and properly handled.

This session by Debbie Cash, CPP, will walk you through the steps involved in correcting W-2s, 941s, and other payroll-related tax forms. Learn strategies on how to avoid common mistakes, meet the required deadlines for filing, and comply with the IRS, state, and local tax requirements in the process of reducing liabilities and saving your organization valuable time and resources.

Session Objectives:

• Learn which amendments require a W-2C or a corrected W-2.
• Understand the timing for filing amendments and forms.
• Master corrections for underpayment and overpayment of FICA taxes.
• Explore common W-2 errors and solutions.

Session Highlights:

• Common errors on current W-2 forms and their solutions.
• Differences between W-2C and corrected W-2s.
• Best practices for 941 corrections.
• Key deadlines and the statute of limitations for payroll corrections.
• Tips to minimize future amendments and streamline payroll processes.

Register for Individual Sessions Here!

Session 2: Form 940 and Federal and State Unemployment | by Dayna J. Reum, CPP, FPC | 60 Mins | 1 IRS CPE Approved

For years, payroll professionals only had to consider routine rate changes for state unemployment. However, recent IRS updates to federal Form 940, along with the financial strain on state unemployment funds, have led to significant changes in payroll unemployment taxes. With depleted funds in several states and COVID-19 legislation extending tax requirements, FUTA and SUTA have become increasingly complex for both employees and employers.

Employers are increasingly concerned about credit reductions affecting certain states. This session by payroll expert Dayna J. Reum, CPP, FPC will cover recent updates and offer strategies to stay proactive. Dayne will also ensure that employers understand when and how credit reductions may impact them in specific states.

Session Objectives:

This webinar will provide payroll professionals with a comprehensive understanding of recent changes to unemployment tax regulations, including updates to federal Form 940, state unemployment (SUI) taxes, and the impact of credit reductions on employers. Participants will gain critical insights into FUTA and SUTA compliance, how state unemployment fund deficits influence tax rates, and strategies to mitigate financial risks. Additionally, attendees will learn how COVID-19 legislative changes continue to affect unemployment tax obligations and how to proactively manage compliance in an evolving regulatory landscape.

Session Highlights:

• Understanding who and what earnings are subject to unemployment taxes
• COVID-19 Legislative updates and how to manage them.
• A review of FUTA tax rate and tax depositing
• Discuss Form 940 changes and common mistakes made
• How FUTA & SUTA interact and why it is important to understand
• Discussion on the status of the state unemployment system and how it will affect your job in the coming years
• Details of the FUTA Credit Reductions
• How to reduce and maintain your SUI rates

Register for Individual Sessions Here!

Who Should Attend

Payroll Professionals, Small Business Owners, Bookkeepers, Managers, Tax Professionals