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myCPE

Ringing in the New Year Taxwise: Payroll Tax Changes for 2024 1 Credit

Dec 30, 2024, 11:00 AM ET

Ringing in the New Year Taxwise: Payroll Tax Changes for 2024 1 Credit

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Dec 30, 2024, 11:00 AM ET

Learning Objective

  • To discuss the latest changes to various IRS forms including the electronic filing thresholds for Form W-2 for 2024, the 2024 941 form and the 2024 Form W-4.
  • To explain the tax year changes for the social security wage base, fringe benefit limitations, federal per diem allowance, standard mileage rate, qualified transportation fringe benefits, and more.
  • To inspect Publication 1494 for 2024.
  • To discuss the best practices in the new year for gathering, calculating, taxing and reconciling W-2 data all year long as is now experienced by the IRS.
  • To analyze the taxation of fringe benefits for the new year including awards and prizes, personal use of company cars and gift certificates.
  • To discuss the state regulatory changes affecting payroll including SUI wage bases, minimum wage increases and more.

Course Overview

Are you ready to prepare your department for the new tax calendar year? Join our webinar as we equip your team with essential tools and updates to navigate the upcoming tax landscape. Delve into crucial topics such as the latest IRS limits on pension plans, revisions to forms W-2, W-4, and 941, and discussions on new federal and state legislation. Stay ahead of the curve with updates on benefit rates, minimum wage adjustments, and changes to SUI wage bases.

Ringing the new year for payroll professionals can be a hectic time. Finishing out the old year while ensuring the new year is off to a good start compliance-wise can be a delicate balancing act fraught with missteps if you don’t have all the information you need.  In this CE/CPE Tax webinar, we will give the latest tax news for 2024 to help your payroll department transition from tax year 2023 to tax year 2024. We will cover all the latest tax news available including any new legislation affecting payroll in 2024. 

Firstly, our focus will be on the IRS, where we'll delve into updates related to inflation-based items, such as the newly adjusted pension plan limits and alterations to transportation fringe benefits. Additionally, we'll thoroughly review the 2024 IRS forms, which include essential documents like W-2, W-4, and 941.

Transitioning to state-level considerations, we'll explore recent updates concerning minimum wage adjustments, changes to unemployment insurance wage bases, and revisions to sick leave policies. Alongside these state-specific updates, we'll also ensure you're informed about any late-breaking legislative or regulatory changes emanating from Washington.

Major Topics Covered:

  • IRS Pension Plans for 2024
  • Instructions for Forms W-2 and W-3 for 2024
  • Federal and State Updates
  • Legislative and Social Security Update
  • Reconciliation Process of Your Forms

Podcast Credits

Short Video Credits

On Demand Credits

Live Credits

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Additional Information

Credit

1

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

IRS APPROVED

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.

NASBA APPROVED

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.

Reviews and Ratings

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JP

Janice Perkins, EA

The course was very informative and easy to understand. I received all the information I needed for my payroll.

KM

Kitti Mason, EA

I think this should be a one and a half hour class. I felt that I missed a lot of notes because it went so fast

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