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myCPE

HR & Payroll Year-End Best Practices 2 Credits

Jan 23, 2024, 12:30 PM ET

HR & Payroll Year-End Best Practices 2 Credits

  • Rating

    4.6
  • Published on

    December, 1969
  • Subject Area

    Taxes

Learning mode

Live Webinar
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  • Take the assessment test
  • Get your certificate
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  • Answer the polling questions
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Jan 23, 2024, 12:30 PM ET

Learning Objective

  • To review preparing the department for the end of the calendar tax year and the New Year processing.
  • To discuss reconciling, completing, and submitting Form W-2 federal and state.
  • To examine updates to annual changes from the IRS, SSA, DOL, and on the state level.
  • To identify some of the best practices that will help make the year-end and year-beginning go smoother.

Course Overview

Preparing for year-end should not begin in October or November as it may have in the past. Preparation should begin in January and be conducted throughout the calendar year. This is especially important now as the IRS is looking at year-end compliance issues. 

This CPE course by Vicki Lambert will provide –

  • Examples of checklists that should be prepared for each year's end to assist in a smooth transition. 
  • It will also cover updates for the calendar year 2023 on such items as social security wage base, deferred compensation limits, mileage rates, and Forms W-2 and 941. 
  • Sample of a form to request a duplicate Form W-2 that can be used by the attendee in their department as well as information on setting up the procedures for requesting the form.  
  • Discuss how to work throughout the year to collect information from accounts payable for year-end instead of trying to obtain all the information in December. 
  • Demonstrate how this helps smooth out the year-end processing and relieve year-end stress for both departments.  
  • Provide the basis for a year-end memo to help payroll departments inform the company's employees of what lies ahead for the upcoming year to help curtail questions during this hectic time for payroll.

In this CE Tax Webinar, we will give the latest best practices to help your payroll department transition from a year-end crunch to a smooth and compliant year-end process. 

We will discuss how checklists can help keep you on track to ensure all tasks are completed. How a simple two-page memo can prevent dozens of employee questions. We will cover how your duplicate Form W-2 request form and procedures should be set up and in place in advance of issuing the forms and how it will assist you when processing those requests in the upcoming year.

Key topics covered in this course:

  • Latest update on the Form W-4 for 2023
  • Reconciliation of Form W-2 to Form 941 and why it must be done
  • Update on year-beginning annual changes for social security wage base, fringe benefit limitations, federal per diem allowance, standard mileage rate, qualified transportation fringe benefits, and more.
  • The required year-end notice to update your employees for the coming year
  • Best practices on organizing the payroll department for year-end including action item checklists for Form W-2, Year-end, and Year beginning to ensure a smooth process
  • Handle duplicate requests for Form W-2 including charging fees
  • Status review of Publication 1494 for 2023
  • Changes to Form W-2 for 2022
  • Best practices for gathering, calculating, and reconciling W-2 data all year long as is now expected by the IRS
  • Taxation of fringe benefits for year-end including awards and prizes, personal use of company cars, and gift certificates
  • Latest update on white-collar exemptions
  • Electronic delivery of W-2s to employees
  • Use of the Form W-2c and when to correct the W-2 itself 
  • State regulatory changes affecting payroll including SUI wage bases, minimum wage increases, and more
  • Review of EFW-2 record changes for the tax year 2022
  • Verifying employee names and SSNs
  • Review of filing deadlines
  • Third-Party Sick Pay Reporting

In this PDC/RCH course, we will also review any late-breaking legislation/regulation changes—including COVID-19 reporting changes to Form W-2.

Podcast Credits

Short Video Credits

On Demand Credits

Live Credits

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Additional Information

Credits

2

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Stay Ahead of the Game with CPE Courses by Vicki Lambert
Vicki Lambert , CPP

President, The Payroll Advisor

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Vicki M. Lambert, CPP, is president and academic director of The Payroll Advisor™ a firm specializing in training payroll professionals. With over 35 years of hands-on experience in all facets of payroll functions as well as over 20 years as a trainer and author, Ms. Lambert is a sought-after and respected voice in the practice and management of payroll issues. She has conducted open market training seminars on payroll issues across the United States that have been attended by executives and professionals from some of the most prestigious firms in business today.

Ms. Lambert has lectured extensively on payroll administration and compliance issues for clients that have included Automatic Data Processing, CCH Incorporated, Ceridian Employer Services, and The Employer Group. Ms. Lambert has also served as a consultant and in-house trainer for businesses such as Sun Microsystems, Paychex, Fox Studios, Disney, County of Riverside, and City of Hesperia.

Ms. Lambert is an adjunct faculty member at Brandman University in Southern California. She is the creator of and the instructor for the Practical Payroll Online program offered through the School of Extended Education. Ms. Lambert currently produces and presents audio seminars and webcasts for clients and business groups throughout the country.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Ratings and Review

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KM

Kim Moody, CPA (US)

So many topics this needed a bit more time. While I understand the presenter will emails the answer to my question, it would be really helpful to have them read all questions & provide answers to the group during the live session so everyone benefits from the Q&A.

LKB

Linda Kaye Bush, AFSP

The HR & Payroll Year-End Best Practices webinar provided me with an abundance of well presented, applicable and pragmatic information. I am glad that it was made available and that I could attend.

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