SHRM & HRCI Approved Webinar | CEUs = 1.5 Credit Hours

Overview:

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 including the latest guidance on the OBBBA; 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.

Background:

Preparing for year-end should not begin in October or November as it may have in the past. Preparation should begin in January and be conducted throughout the calendar year, particularly as the IRS places increased emphasis on year-end compliance. This webinar will cover best practices for transitioning from a year-end rush to a smooth, accurate, and compliant process, including practical checklists for year-end and year-beginning tasks, reconciliation and preparation of Forms W-2 and 941, and key 2027 Updates to Social Security wage bases, deferred compensation limits, mileage rates, and other payroll requirements. Participants will learn how to establish procedures for duplicate Form W-2 requests, including request forms and applicable fees, gather information from Accounts Payable throughout the year to avoid last-minute challenges, and prepare employee communications that explain upcoming changes and reduce routine payroll inquiries. The session will also address the latest OBBBA-related guidance, applicable IRS and regulatory developments, and late-breaking federal and state legislative changes to help payroll departments prepare effectively for 2027.

What will you Learn:

• Latest updates on IRS guidance on implementing and complying with the OBBBA
• Latest update on the Form W-4 for 2027!
• 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, 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
• Status review of Publication 1494 for 2027
• Changes to Form W-2 for 2027
• Best practices for gathering, calculating and reconciling W-2 data all year long as is now expected by the IRS
• Taxation of fringe benefits for year-end including awards and prizes, personal use of company cars and gift certificates
• Latest update on white-collar exemptions
• Electronic delivery of W-2s to employees
• 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
• Review of EFW-2 record changes for Tax Year 2026
• Verifying employee names and SSN’s
• Review of filing deadlines
• Third Party Sick Pay reporting

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.