2021 Payroll Tax Update: New Forms and Requirements Explained

  • Accountant
  • AFSP
  • CRTP
  • CPP
  • CPA (US)
  • EA
  • HRCI
  • ORTP
  • FPC
  • SHRM - CP
  • MRTP
  • CFIRS
  • CWS

Published: December, 2021

Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Updates to dorm W-2 2020
    5 mins
  • W-2 Filing deadlines
    11 mins
  • Information return penalty structure changes -ACA forms
    15 mins
  • Handling duplicates & undeliverable W-2
    19 mins
  • Emergency family and medical leave
    28 mins
  • Taxation of fringe benefits
    40 mins

Course Description

This online Tax CE webinar is designed to help the participant to know updates for 2021 necessary to stay in compliance with the IRS.  Did you know that penalties for information returns have been updated and can cost your company money if W-2’s and the required ACA forms are still required?  Or that the IRS has implemented the requirement that employers report the Sick and Family leave wages paid to employees and taken as a credit on Form 941 be reported on the Form W-2.  These kinds of items and many more will be reviewed in this continuing education course.  

Key topics discussed in this CE Tax Update webinar

  • Latest 2021 Payroll Tax updates
  • Updates on Payroll forms and penalties
  • Most updated information available on tax reform and the potential impact on payroll
  • Review of the COVID-19 legislation will be discussed 
  • Challenges that employers are experiencing, along with best practices to overcome those challenges.

Learning Objectives

  • To examine all the COVID-19 legislation updates and how it impacts reporting
  • To examine the possible impacts of tax reform
  • To summarize the Annual Payroll updates
  • To discuss Form updates and how to handle them for 2021 (W-2, W-4, 941, etc.)

Recommended For

  • This IRS-Approved CE course is good for CPAs, EAs, AFSPs, and Other Tax Professionals providing guidance on payroll-related taxes to their clients.

Who Should Attend?

  • Bookkeeper
  • California Registered Tax Professional
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Human Resources Manager
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 PDC Credit for SHRM-Certified Professional (SHRM-CP) (Approval No. 22-VUP67)
  • 1 RCH Credit of HR (General) for Human Resource Certification Institute (HRCI) (Approval No. 583175)
  • 1 CE Credit of Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-00480-21-S)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0480)
  • 1 CE Credit of Federal Tax Law Update for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-00480-21-S)
  • 1 CE Credit of Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-00480-21-S)
  • 1 RCH Credit for Certified Payroll Professional (CPP) (Approval No. 22CPE005)
  • 1 RCH Credit for Fundamental Payroll Certification (FPC) (Approval No. 22CPE005)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • 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 maintenance 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 through its website: www.NASBARegistry.org.

CTEC APPROVED

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

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Dayna Reum

Specialist, Ann & Robert H. Lurie Children's Hospital of Chicago

Dayna currently is the director of payroll operations at a major medical center in Chicago and has been heavily involved in the payroll field for more than 20 years.

She started as a payroll clerk at a small Tucson company but moved on to be a payroll team leader at Honeywell Inc. 

During her time at Honeywell Inc., she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. Dayna has also received several merit awards for customer service and acquisitions, and divestiture.

She also serves on the National American Payroll Association on the national Strategic Leadership Task Force, Government Affairs Task Force (PA Local tax subcommittee), and received a citation of merit for her service along with being a gold pin member of the APA.

Dayna is also a CPP (Certified Payroll Professional) through the APA and certified in HR hiring and firing practices and is a Six-Sigma Greenbelt.


About Company

Ann & Robert H. Lurie Children's Hospital of Chicago

www.luriechildrens.org/

Ann & Robert H. Lurie Children's Hospital of Chicago is the largest pediatric healthcare provider in the region with a 130 year legacy of excellence. We are proud to serve as the pediatric teaching and research partner of Northwestern University Feinberg School of Medicine, and are ranked nationally in all 10 pediatric specialties by U.S. News & World Report.

Faq

FAQs content

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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.2

37 Ratings

Excellent

15

Very Good

16

Average

6

Poor

0

Terrible

0

LCTT

Linda C Troxel Troxel, Accountant

Dec 29th, 2021

I haven't prepared payroll in quite a few years and learned how many changes there have been.

LP

Linda Peoples, CPA (US)

Dec 28th, 2021

was to big a topic area for the amount of time.

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