W-2 Compliance for 2021:
What Payroll Needs to Know
In this 75-minute training, you will learn how to:
Make your W-2s bulletproof.
Get a box-by-box review that will help even the most seasoned payroll pros.
Navigate the new rules and upload process.
This year you face changes to W-2 instructions, increased penalties and new e-filing rules.
Head off time-consuming questions from employees.
The right moves upfront will make the W-2 process easier for employees—and for you.
Get practical solutions to the complex W-2 process you’ll face in January
As tax forms go, W-2s are small in dimension. But they can carry an oversized risk and complexity—if you’re not prepared.
This timely new webinar recording will prepare you for the upcoming filing year, provide best practices for completing—and reconciling—the form, and explain important new changes in your 2021 W-2 process. (For example, if you provided employees with pandemic-related sick or family leave, the IRS just released new W-2 reporting rules that may require you to make up to 6 entries in Box 14.)
Also, the IRS and Social Security Administration are no longer playing Mr. Nice Guy on W-2s! Make even one critical error in your W-2s and you'll be bumped down into non-filer status and become perfect penalty bait for the IRS. And penalties aren’t pocket change anymore.
Even worse, your e-filing status may be changing. The IRS plans to lower the e-filing threshold for W-2s next year, from 250 or more forms to only 100 or more. This short timeline and a new “aggregation rule” may require immediate action by your payroll department.
Learn how to avoid IRS penalties and file your W-2s with total confidence.
Agenda for W-2 Compliance for 2021
- W-2 requirements for 2021, including a box-by-box review and new changes to reporting.
- How to ensure your W-2s and 941s balance. There are two balancing acts: Your W-2s with your W-3s and your W-2s with your 941s.
- Common, critical errors. Before you file, spot and fix the three critical W-2 errors that give the SSA heartburn. Learn how to make the de minimus safe harbor for W-2 errors work in you favor every time.
- Reconciliations. The never-fail strategy for making W-2 reporting a non-event.
- WFIDs. What they are and why it’s vital to get one and retain it.
- Two crucial pre-filing steps to ensure employees’ names and SSNs are properly reported and your box entries are correct.
- How to handle tricky W-2 problems, including reporting for a deceased employee and what to do if you don’t have an employee's SSN.
- 4 tips to avoid phishing and hacking of W-2 data. It’s becoming way too common.
- 7 tips for working with other departments to ensure a smooth year-end process for you.
Alice Gilman, Esq., is an expert in payroll and tax compliance who has covered payroll issues for more than 26 years. She's written and edited several leading payroll publications, including Payroll Legal Alert, the Research Institute of America's Payroll Guide, the American Payroll Association's Basic Guide to Payroll and the Payroll Manager's Letter.Alice Gilman esquire and author
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