This training program will discuss various aspects of the IRS Form W-2 for 2017. The webinar will cover requirements for completing and filing the form including a box by box explanation. Best practices for completing and reconciling the form, and handling duplicate requests from employees will also be covered. The webinar training will further look at when to use the correction Form W-2c and the latest requirements for the Affordable Health Care Act as it relates to reporting requirements on the form.
Why Should You Attend
Each year the Form W-2 is reissued by the IRS and 2017 is no exception.
- So what is new for this year and what changes are in place for upcoming years?
- Do I reissue writing corrected statement on the top of the form or do I need to complete a Form W-2c?
- The evitable request for duplicate copies of the form: what is the best practice for handling these requests?
- Must the form be a paper version of the form or can it be electronic and can I charge a fee for such a request?
In order to understand how to process Form W-2 correctly, it is also important to understand what the IRS expects to be submitted within each of the boxes on the form. This webinar will review those requirements box by box, paying special attention to known hot spots to watch out for, such as payments made by sources other than payroll including accounts payable.
This course will highlight best practices, developed over the years to collect this data in the most efficient manner possible, which each payroll department must implement. Despite careful planning, things can go wrong and when an incorrect Form W-2 is issued, the decision on how to correct the form poses various other questions too. This course will present strategies for the same.
Areas Covered in the Webinar
- Changes to the Form W-2 for 2017 including the re-use of box 9
- Line by line completion of the Form W-2 with examples
- Latest information on reporting employer provided healthcare coverage
- Why submission due dates are being moved up to avoid fraud and who has moved them for 2017 and beyond
- Reconciliation of Form W-2 to Form 941 - best practices on when and why it must be done
- How to handle duplicate requests for Form W-2 including a sample form and charging fees
- Best practices for gathering, calculating and reconciling W-2 data
- Electronic delivery of W-2s to employees—what is required to set up the program
- When to use the Form W-2c and when to correct the W-2 itself
- Using SSA’s BSO to file Forms W-2c electronically
- Penalties for incorrect information have doubled and how that makes it imperative to verify employee names and social security number with the SSA data base
- 2017 update: What forms will now be rejected by SSA
Who Will Benefit
- Payroll Professionals
- Human Resources
- Accounting Personnel
- Business Owners
- Attorneys, or any individual or entity that must deal with the complexities and technicalities of Form W-2 compliance within the payroll process
Gathering the data for Form W-2 begins when the first payroll is run for 2017 and ends when it is reconciled after the last processing of the year. But there is more to ensuring that this document is correct and corresponds to all IRS and Social Security Administration (SSA) regulations than just crossing your fingers and hoping all the wages processed through payroll got into the right box. You even run the risk of having the Form W-2 rejected by the SSA.
Submitting the form has changed over the years. Starting out and continuing as a paper form has been the norm. However, in recent years, technology has permitted payroll departments to begin submitting this form to employees electronically. But if and only if certain conditions are met including a full disclosure statement that must be signed by the employee.
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.
With over 35 years of hands-on experience in all facets of payroll functions as well as over 20 years as a trainer and author, Ms. Lambert has become the most sought-after and respected voice in the practice and management of payroll issues. She has conducted open market training seminars on payroll issues across the United States that have been attended by executives and professionals from some of the most prestigious firms in business today.
A pioneer in electronic and online education, Ms. Lambert produces and presents payroll related audio seminars, webinars and webcasts for clients, APA chapters and business groups throughout the country. Ms. Lambert is an adjunct faculty member at Brandman University in Southern California and is the creator of and instructor for their Practical Payroll Online program, which is approved for recertification hours by the APA. She is also the Program Developer, Subject Matter Expert (SME), and Facilitator for the Certificate in Payroll Practice and Management Program offered by Cengage Learning / Ed2Go through hundreds of colleges and universities across the country.