This webinar is designed to help the participant to better understand IRS Form updates for 2025 necessary to stay in compliance with the IRS. Did you know that penalties for information returns have been updated and can cost your company money if W-2’s and the ACA forms are still required? Or that the IRS has implemented requirement that employers report the Sick and Family leave wages paid to employees and taken as a credit now on the Form 941X instead of the Form 941. These kinds of items and many more will be reviewed. We also will review the most updated information available on tax reform and the potential impact on payroll. This session will also review recently updated new year legislation from overtime changes and rescinds along with IRS amounts.

Learning Objectives:

• To better understand the do’s and don’t s of critical compliance forms.
• How to process the 941 and avoid audits
• Processing W-2’s correctly
• Proper balancing the Form 941 to your W-2’s at year end
• Understanding the new Electronic W-4 requirements
• How employers should support employees when completing the W-4 and what employers shouldn’t be doing.

Agenda

• Form 941 & W-2
• Updates
• Deadlines
• Information Return Penalty changes
• Electronic Delivery Requirements
• IRS Form Update
• Form 940
• Form W-4
• Annual Updates
• Taxation of Fringe Benefits
• DOL overtime update and what happens next