Education & Certification

Title

Payroll Compliance Update Amid COVID-19


Payroll Compliance Update Amid COVID-19

Program Overview

Part 1: Legislative and Regulatory Update – 7/8/2020
Part 2: New Federal Forms and Changes – 7/10/2020

Registration for this two-part course includes:
  • Option to ask questions in advance to guarantee a place in the queue. Submit questions to [email protected] no later than 7/3
  • eBook of materials
  • Copy of slides in PDF
  • Unlimited on-demand access until 9/15/20

2020 Pricing (includes both parts)

MemberColleagueNon-Member
$275.00$335.00$405.00

Part 1: Legislative and Regulatory Update
Speaker: Andy Garboden, CPP, Director of Payroll Training, APA

2020 has been a challenging year for payroll professionals. In addition to the usual types of procedural changes, such as new regulations allowing for the truncation of SSNs on employees' Forms W-2, there has been the unprecedented challenge posed by the COVID-19 pandemic. This session will briefly discuss new laws and regulations affecting payroll and will focus on COVID-19 compliance issues. These new laws impacting payroll include the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

During this webinar, you will learn:
  • How a provision in the Taxpayer First Act authorizing the IRS to lower the electronic filing threshold for information returns may affect payroll later this year
  • The final regulations on truncating SSNs on employees' Forms W-2
  • The payroll-related requirements included in the FFCRA and the CARES Act
  • What the DOL's temporary regulations implementing the emergency paid sick leave and expanded family and medical leave provisions require
  • What tax credits are available to employers for providing leave under the FFCRA and for retaining a certain percent of their employees on the payroll
  • Other forms of relief for employers, including a delay in the payment date for certain employment taxes and forgivable Paycheck Protection Program loans

Part 2: New Federal Forms and Changes
Speaker: Jim Medlock, CPP, Education Consultant, Medlock & Associates

The second session will continue the discussion of employer tax credits and other relief provisions in the FFCRA and CARES Act. Because many of the provisions are directly related to employment taxes, Form 941, Employer's Quarterly Federal Tax Return, and its instructions have been significantly revised beginning with the forms that are due for the second quarter of 2020. Complicating the reporting and reconciliation process, some credits may be claimed in advance by filing the new IRS Form 7200, Advance Payment of Employer Credits Due to COVID-19. Another new form in 2020 is Form 1099-NEC, Nonemployee Compensation. Learn how to proper properly report nonemployee compensation to workers using the new form.

During this webinar, you will learn:
  • The relation of new Form 7200 to the revised Form 941 for the second quarter of 2020
  • How advance COVID-19-related tax credits may be claimed on Form 7200
  • How COVID-19-related tax credits will be reconciled on the revised Form 941
  • Details about the revised instructions for Form 941, including how to complete Worksheet 1 where the employer takes the credits
  • How to properly report payments to independent contractors using Form 1099-NEC

Who Should Attend

Payroll directors and managers, tax and compliance officers, controllers, CFOs, treasurers, and anyone involved with your organization's payroll function.

Delivery Option

  • Two-session Zoom classroom

Schedule

Each session is 90 minutes
Part 1: Wednesday, 7/8/20, 1:30-3:00 p.m. ET
Part 2: Friday, 7/10/20, 1:30-3:00 p.m. ET

Recertification Credit

Earn up to 3 Recertification Credit Hours (RCH), 0.3 Continuing Education Credits (CEU), 3 Continuing Professional Education (CPE) credits. Delivery Method: Group Internet Based; Field of Study: Taxes = 1.5 and Business Law = 1.5

Event Policies

Please read our policies for registration, transfer, substitution, cancellation, and refund.