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16 CPE

Surgent's The Complete Guide to Payroll Taxes and 1099 Issues

This is a text-based course

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16 CPE

This is a text-based course. To receive credit, you are required to review all content and achieve a minimum score of 70% on the final exam.

Employment taxes are often overlooked as an area where more planning may be effective. Payroll taxes have become an increasing burden for the average business, and IRS penalties for noncompliance have risen dramatically in recent years. They have also been subject to employer incentives. The Service has announced that uncovering noncompliance by employers ranks high on its audit list. This course presents a comprehensive overview of federal payroll taxes, Form 1099, and related compliance issues.

Learning Objectives

  • Distinguish an employee from an independent contractor and understand the relief available to employers who misclassify employees
  • Understand what is needed to complete Forms W-2, 1099-MISC, 1099-R, and SS-8
  • Understand the gig economy and the payroll tax responsibilities associated with it

Major Topics

  • Payroll tax requirements for wages, including wages subject to the .9 percent tax, employee benefits and reimbursements, nonqualified deferred compensation, stock options, and tips
  • Fringe benefits issues, such as health insurance, life insurance, cafeteria plan benefits, accountable and non-accountable plans, standard mileage rates, and per diem rates
  • Special issues -- Using a common paymaster, how to file W-2s after a takeover, merger, or acquisition, and state and local tax withholding
  • Statutory employees, independent contractors, and possible changes to §530 relief
  • Penalties -- Who is a responsible person?
  • Expenses and gross-up calculations
  • Pension issues and payroll taxes including SIMPLE plans, and §401(k) and pension distributions
  • The Electronic Federal Tax Payment System (EFTPS)
  • Forms I-9, W-9, W-2, 1099, 1099-NEC, SS-8, and 940
  • Understanding payroll tax responsibilities in the gig economy

CPE Credits Available

16 CPE
16
Taxes

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • Tax

Prerequisites

None

Advanced Preparation

None

Intended Audience

CPAs in public accounting and industry with responsibility for payroll tax compliance

Provider

Surgent CPE

Purchase This Course

  • COCPA Member

    $ 279 279
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  • COCPA Non-Member

    $ 363 363
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