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Payroll Tax Changes for 2022
January 12, 2022 @ 11:00 am - 12:40 pm
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.
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 2022!
- 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 2022 and how it survived COVID
- How to handle duplicate requests for Form W-2 including charging fees
- Status review of Publication 1494 for 2022
- Changes to Form W-4 for 2022
- 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