Preparing for the year end should not begin in October or November as it may have in the past. Instead, preparation should begin in January and be conducted throughout the calendar year. This is especially important now as the IRS is looking at year-end compliance issues.
It is important that you learn about the latest best practices to help your payroll department transition from a year-end crunch to a smooth and compliant year-end process. You must understand how to work throughout the year to collect information from accounts payable for the year end instead of trying to obtain all of the information in December.
Join this session where expert speaker Vicki M. Lambert will concentrate on preparing your department for the end of the calendar tax year and the new year processing. You will learn about reconciling, completing and submitting Form W-2 at federal and state level and get updated on annual changes from the IRS, SSA, DOL and on the state level. You will learn best practices that will help make the year end and early 2018 go smoother.
Vicki will discuss how check lists can help keep you on track to ensure all the tasks are duly completed, such as how a simple two-page memo can prevent dozens of employee questions. She will cover how 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 upcoming year. Vicki will also provide examples of check lists that should be prepared for each year end to assist in a smooth transition. You will also get updates for the calendar year 2018 on such items as social security wage base, deferred compensation limits, mileage rates and Forms W-2 and 941.
You will get a sample form to request a duplicate Form W-2 that can be used in your own department as well as information on setting up the procedures for requesting the form. Vicki will discuss how to collect information from accounts payable throughout the year instead of trying to obtain all of the information in December. This helps smooth out the year-end processing and relieve year-end stress for both departments. You will also receive the basis for a year-end memo to help payroll departments inform the company’s employees of what lies ahead for the upcoming year; this will curtail questions for payroll during this hectic time.
Vicki will also cover any late-breaking legislation/regulation changes which may result from the new administration or congressional action either by inclusion in the event or through information updates which will be made available to you after the fact.
This session will cover:
Who Should Attend
Those who handle closing out the calendar year payroll and preparing Forms W-2, including:
Ask a question at the Q&A session following the live event and get advice unique to your situation, directly from our expert speaker.
- Dr. David Lim
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.