U.S. Year-end

A comprehensive seminar that guides you through U.S. payroll year-end preparation.

Reduce the risk of non-compliance penalties with this information-packed, one-day online seminar. It will specifically address the complex compliance issues of U.S. year-end payroll processing, including the latest changes in federal and state COVID-19 legislation and regulations that impact payroll. Preparing for U.S. Year-End and New Year brings you up-to-date on the latest changes in legislation and regulations that impact the close of 2021 and the beginning of 2022.

Learning objectives:

This seminar addresses the complex compliance issues of year-end, including the latest changes in legislation and regulations that affect the close of one year and the beginning of the next. By attending this class, you will:

  • Learn how COVID-19-related legislation and agency guidance will continue to impact your organization
  • Understand the IRS’s proposed regulations to lower the electronic filing threshold for information returns
  • Learn about revisions to Forms 941, 941-X, and 7200

Who Should Attend?
Payroll, human resources, systems, accounting, and finance professionals responsible for payroll operations and involved in year-end processing.



Sound for this online session is streamed directly through your computer or electronic device. Participants will not be provided with a dial-in number.

Please test check your system BEFORE you register. Make sure you are connected via your local desktop (not through your company’s server) to perform this test and view the future presentation. Click here to test your system and for troubleshooting tips.

Year-end Preparation

  • Year-end checklist, accumulators, and project plan
  • Verifying social security numbers
  • Social Security Administration’s changes to reporting
  • IRS fights tax refund fraud
  • Verification of employee data, reconciliations, and year-end notices

State Regulations Impacting Year-end

  • State Annual Reconciliation Return and Magnetic Media/Electronic Reporting
  • State Unemployment and Disability Wage Bases

Annual Changes

  • Social security wage base
  • Social security/Medicare threshold for domestic employees and election workers
  • Medicare tax rate
  • Retirement plan changes
  • Fringe benefit limitations
  • Federal per diem and mileage rates
  • Federal standard deduction
  • Federal tax levies – Publication 1494
  • Automobile rates
  • Qualified transportation fringe benefit limits
  • Information return and payee statement penalties
  • Affordable Care Act annual adjustments
  • Income exclusion for U.S. citizens living abroad
  • Health Savings Account limits and definitions

Year-end Reporting and Taxation of Fringe Benefits

  • Taxable fringe benefits
  • Supplemental wages and grossing-up
  • Group-term life insurance
  • Awards, prizes, and gift cards
  • Qualified transportation fringe benefits
  • Loans to employees
  • Deferred compensation
  • Qualified transportation fringe benefits
  • Loans to employees
  • Deferred compensation
  • Cafeteria and flexible benefit plans
  • Nonqualified stock options
  • Dependent care benefits
  • Adoption assistance
  • Overpayments and repayments
  • Forms 1094-C and 1095-C, third-party sick pay, W-2 retirement plan check box, and health insurance reporting

Government Issues Review

Legislative Actions
  • COVID-19-Related Legislation

2021 Legislative Proposals

  • Federal agency budgets and payroll impacts: what’s funded, what isn’t
  • Legislation enacted establishing Juneteenth as a federal holiday
  • IRS issues proposed regulations to lower the electronic filing threshold for information returns
  • IRS proposed regulations to clarify tip credit
  • DOL rescinds joint employer role and withdraws independent contractor rule

Regulations and Guidance

  • Latest information on COVID-19-related compliance requirements
  • IRS finalizes regulation on deadlines for federally declared disasters
  • IRS guidance providing flexibility for health or dependent care FSAs
  • IRS issues rules for meals and entertainment expenses
  • IRS issues guidance in temporary increase for food and beverage deduction
  • IRS adjusts foreign housing cost exclusion for 2021
  • IRS final rules for federal income tax withholding including optional bridge
  • New and revised DOL guidance under the new administration

Court Decisions

  • Supreme Court dismisses ACA case
  • Supreme Court declines to hear FLSA overtime case
  • IRS disagrees with 11th Circuit interpretation that PEO was employer
  • Appeals Court defines workweek under FMLA for rotational employees
  • Court withdraws prior ruling on salary basis, agrees daily rate may satisfy requirement for FLSA exemption
  • Appeals Court agrees organ coordinator was an HCE
  • Court of Federal Claims rules employer failed to show reasonable cause for penalty abatement after owner has serious accident

Agency Initiatives

  • Update on DOL misclassification agreements with states
  • SSA discontinues ‘No-Match’ letters
  • OCSE updates IWO Guid

Forms Review and Revisions

  • Form 941, Schedules B, D, and R
  • Form 7200
  • Form 941-X
  • Forms W-2 and W-2c
  • Forms W-3 and W-3c
  • Form 940
  • Form 1099-MISC and 1099-NEC

Please note that after registering online for this event, you will receive an email confirmation that confirms your registration. Confirmation emails are sent approximately within 2 business days after the registration has been processed.

Three business days before the live event, you will be sent the link to access the online PD seminar on the scheduled day.

Also, detailed instructions on accessing the online PD seminar will be emailed to you on the morning of the event.

Cancellations or Transfers: requests must be received in writing at least four (4) business days prior to the online seminar date. Please note a cancellation fee or transfer fee in the amount of $50 plus applicable taxes will be applied. Cancellation or transfer requests received after the login information has been provided are not eligible for a transfer or refund.

Study Option: Online
Study Option: Online

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