About The Event
The COVID-19 pandemic and the declaration of a national emergency raises questions about the treatment of various fringe benefits. This includes reimbursement for work at home expenses, paid and unpaid leave, sick pay, dependent care costs, medical expenses, leave sharing arrangements, and disaster relief payments. This session will include a discussion of the tax treatment of benefits employers may provide to employees during the national disaster.
The session will also cover the general rules for fringe benefits including benefits that may be excluded from employee wages as well as benefits that are fully or partially taxable. The rules for exclusion vary for different benefits and even for different taxes with regard to the same benefit. The rules are complex and can be confusing.
For taxable non-cash benefits, valuation can be a complex process and are sometimes subject to special rules. It is also critical to know when to treat a benefit as provided to the employee so that the employer is compliant with tax withholding and deposit requirements.
- Fringe benefits under a national emergency declaration
- Benefits provisions under COVID-19 relief legislation
- Fringe benefits that may be excluded from employee wages and requirements for exclusion
- Fringe benefits for which employer expense deductions are limited
- Methods for determining the value of fringe benefits for tax purposes
- When to include taxable benefits in employee compensation: timing and methods
- Tax computation, withholding, deposit and reporting requirements
- Cafeteria (Section 125) plans and Simple Cafeteria Plans
- Changes to fringe benefit taxation under the TCJA and the impact of those changes
- Accountable expense reimbursement plans and why they may more important than ever
- Identify special benefits available under COVID and disaster relief
- Identify fringe benefits that may be excluded or partially excluded from employee wages.
- Understand the rules that apply to benefit exclusion from wages.
- Understand limitations on employer tax deductions for certain fringe benefits
- Identify methods used to determine the value of fringe benefits for tax purposes
- Know when and how to include the value of taxable fringe benefits in employee compensation
- Know when and how to compute, withhold, deposit and report taxes for taxable fringe benefits
- Understand the rules for cafeteria (Section 125) plans and Simple Cafeteria Plans
- Understand why an accountable expense reimbursement plan may be more important than ever
- COVID-19-Related Tax Credits
- Required Paid Leave - Small and Midsize Businesses
- Paid Sick and Paid Family Leave: Overview
- Special Issues for Employees
- Special Issues for Employers
- IRS Pub 15-A Employer’s Supplemental Tax Guide
- Section 5: Wages and Other Compensation
- Section 6: Sick Pay Reporting
- IRS Pub 15-B Employer’s Tax Guide to Fringe Benefits
Who Should Attend
- Payroll Supervisors and Personnel
- HR Supervisors and Personnel
- Public Accountants
- Internal Auditors
- Tax Compliance Officers
- Enrolled Agents
- Employee Benefits Administrators
- Officers and Managers with Tax or Benefits Compliance Oversight
- Company / Business Owners
- Managers/ Supervisors
- Public Agency Managers
- Audit and Compliance Personnel / Risk Managers
Industries: Human Resource, Payroll & Accounting, Accounting And Taxation , Payroll, HR Compliance, Performance Management
Pat Haggerty is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice. He began teaching accounting at the college level in 1988. He is licensed as an Enrolled Agent by the U. S. Treasury to represent taxpayers at all administrative levels of the IRS and is a Certified Management Accountant. He has written numerous articles and a monthly question and answer column for payroll publications. In addition, he regularly develops and presents webinars and presentations on a variety of topics including Payroll tax issues, FLSA compliance, information returns, and accounting.
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.
Also, please check your junk mail or spam folder for firstname.lastname@example.org or email@example.com. If you are still unable to find it, contact our Customer Service at (888) 527-3477, 8:00am-4:30pm EST Monday-Friday, for a new one.
For that, login to your user account. Go to Orders > Webinar. You will see a “Attendees” button. Click on that, it will go to Add Attendee page. There you can add Attendee details. Once you have added the details, you will be taken to Attendee Listing page, where you can see “Certificate Download” button to download certificate.
After you have purchased a recording, login to user account. Go to Orders->Recording tab. There you will find a Download link. Click on that to download the video.
Once you have purchased a On-demand video, login to user account. Go to Orders->On-demand tab. You will find a Watch Now button. Click Watch Now button to watch the video.
Access Unlimited Webinars
Why You Should Subscribe?
Unlimited Live and On-Demand Courses
Attend any of our live webinars, more than 100 every year and all previously recorded webinars in On-Demand format related to HR, Payroll, Affordable Housing, Construction Law Management, Microsoft Office and Performance Management Office.
Unlimited SHRM and HRCI Credits
All our HR related programs are pre-approved for HRCI and SHRM credits, for which you don't have to pay anything.
Free Access to Course Materials
Each program comes with Additional Course Materials, which you can download and read anytime.
If you have a group, we offer good discounts on group membership.
Call Now At