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PAYROLL TAX AUDIT - BEST PRACTICES TO AVOID & BEST APPROACH TO HANDLE

4.2 (196)

M. Swratz

MS Payroll

Wednesday, November 13, 2019 | 03:30 PM EDT

  • CPA

1.5 Credits

$10

Subject Area

Auditing

Upcoming Webinars

Course Description

Most of you’re the businesses keep diligent financial records and have never tried to defraud the government on taxes. However, if the state targets an organization for a payroll tax audit, it may understandably cause concerns. If you’re an accountant, CPA or a Tax Professional; you must evaluate your practices against the laws and regulations governing them. And if you’re a CFO/Controller, you must make sure that these practices are implemented in your organization. 

Periodic internal payroll audits can help you make sure your organization complies with employment and tax laws. They are also key to verifying payroll record accuracy—and fixing errors before the IRS or another agency find them for you. In payroll tax administration, this means evaluating your practices against the laws and regulations governing them. Most automated payroll systems get the numbers right when it comes to gross wages and withholding. The problems come with decisions such as the use of independent contractors, payments that don’t go through payroll, when overtime pay is due, and other areas where the law is not clearly defined.

Mark Schwartz (Payroll Tax Expert) of MS Payroll has provided consultation in 200+ payroll tax audits and in this Tax CPE/CE webinar, he’ll cover issues that demand an attention to detail and thorough planning due to increased IRS scrutiny. It will give you an update on the latest developments in this area of taxation, including which wages are subject to the new 0.9 percent tax. In short, this webinar will give you the information you need to help your clients/your organization to stay compliant.

So who should conduct your audit — someone in-house or a third party? Regardless of the route you choose, you need to know ALL the steps to leave no stone upturned.

Join us as our presenter, a skilled employment tax consultant, will teach you how to conduct a successful payroll audit, so you'll be armed to identify compliance mistakes, spot fraud, and devise a plan to correct payroll issues.

Recommended for Accountants, CPAs, Tax Professionals, Payroll Professionals, CFOs & Controllers

Learning Objectives

  • Recognize how to verify who has access to your payroll system.
  • Identify how to spot “phantom” employees who might be collecting paychecks.
  • Identify where to find relevant information to verify employees’ salaries, raises, and supplemental payments, such as bonuses and commissions.
  • Recognize how to ensure that mandatory deductions—such as wage garnishments and payroll taxes—are being made.
  • Where your pay practices could be running afoul of the Fair Labor Standards Act.
  • What to watch for when reviewing expense reimbursements and fringe benefits.
  • Data security vulnerabilities you have to guard against.
  • What to include in your written payroll audit findings report.
  • Penalties and how to minimize/avoid them.
  • The IRS’ directives to auditors on what to focus on in payroll audits.

Who Should Attend?

  • Auditors
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Finance Director
  • Finance Pros
  • Young CPA

Testimonial

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    [no_of_record] => 196
    [average] => 4.1939
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4.2

(196)
48%
33%
12%
3%
4%