12/11/2013 06:15 AM12/11/2013 12:15 PMTraining Topic: Preparing For Year-End 2013 and Year Beginning 2014Instructor: Vicki M. Lambert
Preparing for the close of the year end can be a stressful time of the year for any payroll department. There are dozens of processes that must be completed in order to process the employees’ Forms W-2 correctly and efficiently. But the payroll department does not just have to handle the end of the calendar year. The new calendar year must also be prepared for and during the same one month period.
Why Should you Attend:
Attend this 90 minute presentation to learn how to close out the calendar year 2013 in the most efficient and compliant method possible while learning the latest information needed to begin processing your 2014 payrolls.
Objectives of the Presentation:
This webinar concentrates on preparing the department for the end of the calendar tax year and the new year processing. Topics include reconciling, completing and submitting Form W-2 federal and state; update to annual changes from the IRS, SSA, DOL and on the state level; and best practices that will help make the year-end and year beginning go smoother. But preparing for year end should not begin in October or November. To prevent stress and provide for a smooth transition to the new year, preparation for year end should begin in January and be conducted throughout the calendar year.
In this 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. We will discuss how check lists 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 setting up 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 new year.
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, advanced earned income credit and more.
How to use 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 check lists for Form W-2, Year end and Year beginning to ensure a smooth process
How to handle duplicate requests for Form W-2 including charging fees
Best practices for gathering, calculating and reconciling W-2 data
Taxation of fringe benefits at year end including awards and prizes, moving expenses, personal use of company cars and gift certificates
Electronic delivery of W-2s to employees
When to use the Form W-2c and when to correct the W-2 itself
Review of EFW-2 record changes for tax year 2013
Review of filing deadlines
Who can Benefit:
Any individual or entity that must deal with the complexities and requirements of closing out a payroll for the end of a calendar year and setting up a payroll for the new calendar year.
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