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

Duration: 90 minutes

Speaker: Vicki M. Lambert, CPP

CREDITS:

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ABOUT THE EVENT

Overview

This webinar concentrates on preparing the department for the new tax calendar year. Topics include IRS new limits on pension plans, updates to forms W-2, W-4 and 941, discussion of new or pending federal legislation and state updates including new rates for benefits, changes to minimum wage and SUI wage bases.

Background

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 webinar we will give the latest tax news for 2024 to help your payroll department transition from a tax year 2023 to tax year 2024. We will cover how all the latest tax news available including any new legislation affecting payroll in 2024.

Focusing first on the IRS, we will discuss the updates to inflation-based items such as the new pension plan limits and transportation fringe benefits. We will review the 2024 IRS forms including forms W-2, W-4 and 941.

Moving on to the states we will cover the updates to minimum wages, unemployment insurance wage bases and sick leave updates.

We will also cover any late-breaking legislation/regulation changes coming out of Washington.

Information Covered In The Presentation

Latest changes to electronic filing thresholds for the Form W-2 for 2024!
New look and new copies for 2024 Form W-2?
Update on tax year changes for social security wage base, fringe benefit limitations, federal per diem allowance, standard mileage rate, qualified transportation fringe benefits, and more.
Review of the Form 941 for 2024 and if it is finally over COVID
How to handle duplicate requests for Form W-2 including charging fees
Status review of Publication 1494 for 2024
Changes to Form W-4 for 2024
Best practices in the new year for gathering, calculating, taxing and reconciling W-2 data all year long as is now expected by the IRS
Taxation of fringe benefits for in the new year including awards and prizes, personal use of company cars and gift certificates
When to use 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
Verifying employee names and SSN’s
Review of filing deadlines
Review of federal tax legislation

Who Should Attend

Payroll Executives/ Managers/ Administrators/ Professionals/ Practitioners/ Entry Level Personnel
Human Resources Executives/ Managers/Administrators
Accounting Personnel
Business Owners/ Executive Officers/ Operations and Departmental Managers
Lawmakers
Attorneys/ Legal Professionals
Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues for Year End closing and preparing for the upcoming year.

Speaker(s)

Vicki M. Lambert, CPP

Vicki M. Lambert, CPP, is President and Academic Director of The Payroll Advisor™, a firm specializing in payroll education and training. The company’s website www.thepayrolladvisor.com offers a payroll news service which keeps payroll professionals up-to-date on the latest rules and regulations. With 40 years of hands-on experience in all facets of payroll functions as well as over three decades as a trainer and author, Ms. Lambert has become the most 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. A pioneer in electronic and online education, Ms. Lambert produces and presents payroll related audio seminars, webinars and webcasts for clients, APA chapters and business groups throughout the country. Ms. Lambert is an adjunct faculty member at Brandman University in Southern California where she is the instructor for the American Payroll Association’s “PayTrain” online program offered by Brandman University.

CEUs

The use of this seal confirms that this activity has met HR Certification Institute’s® (HRCI®) criteria for recertification credit pre-approval.

Credits: 1.5

Compliance Prime is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for PDC(s) for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit www.shrmcertification.org

Credits: 1.5

Compliance Prime 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: https://www.nasbaregistry.org.

Credits: 1.5

Credits: 1.5

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