Payroll Tax Changes for 2025

Description

This webinar concentrates on preparing the department for the new tax calendar year. Topics include IRS new limits on pension plans, updates to forms W-2, W-4, and 941, discussion of new or pending federal legislation, and state updates including new rates for benefits, changes to minimum wage, and SUI wage bases.

Ringing in the new year for payroll professionals can be a hectic time. Finishing out the old year while ensuring the new year is off to a good start, compliance-wise, can be a delicate balancing act fraught with missteps if you don’t have all the information you need. In this webinar, we will provide the latest tax news for 2025 to help your payroll department transition from tax year 2024 to tax year 2025.

We will cover all the latest tax news available, including any new legislation affecting payroll in 2025. Focusing first on the IRS, we will discuss updates to inflation-based items such as the new pension plan limits and transportation fringe benefits. We will review the 2025 IRS forms, including forms W-2, W-4, and 941.

Moving on to the states, we will cover updates to minimum wages, unemployment insurance wage bases, and sick leave updates. We will also cover any late-breaking legislation/regulation changes coming out of Washington.

Learning Objectives:-

• Latest changes to electronic filing thresholds for the Form W-2 for 2025!
• New look and new copies for 2025 Form W-2?
• Update on tax year changes for social security wage base, fringe benefit limitations, federal per diem allowance, standard mileage rate, qualified transportation fringe benefits, and more.
• Review of the Form 941 for 2025.
• How to handle duplicate requests for Form W-2, including charging fees.
• Status review of Publication 1494 for 2025.
• Changes to Form W-4 for 2025.
• Best practices in the new year for gathering, calculating, taxing, and reconciling W-2 data all year long, as is now expected by the IRS.
• Taxation of fringe benefits in the new year, including awards and prizes, personal use of company cars, and gift certificates.
• When to use the Form W-2c and when to correct the W-2 itself.
• State regulatory changes affecting payroll, including SUI wage bases, minimum wage increases, and more.
• Verifying employee names and SSNs.
• Review of filing deadlines.
• Review of federal tax legislation.

Why Should You Attend?

• Gain insight into the latest IRS and state updates affecting payroll compliance.
• Learn best practices for handling year-end payroll processes efficiently.
• Understand the impacts of new legislation and regulations on payroll operations.
• Stay compliant with changes to forms and tax thresholds for 2025.

Who Will Benefit:-

• Payroll Executives/ Managers/ Administrators/ Professionals/ Practitioners/ Entry Level Personnel
• Human Resources Executives/ Managers/Administrators
• Accounting Personnel
• Business Owners/ Executive Officers/ Operations and Departmental Managers
• Lawmakers
• Attorneys/ Legal Professionals
• Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues for Year-End closing and preparing for the upcoming year.