An overview of the different ways for tax purposes that employers may designate some or all of an employer's Federal employment tax withholding, reporting and payment responsibilities and obligations to others. New Rev. Proc. 2012-32 has changes the rules for how employers can designate a reporting agent to make their payroll tax deposits. And, new Rev. Proc. 2012-33 has established rules for reporting agents to make EFTPS electronic payments on behalf of employers. Reporting agents include payroll service bureaus, accounting services, franchisers, banks or other entities that are authorized to handle payroll matters for you. The IRS has also released new versions of Form 8655, Reporting Agent Authorization, and Form 2678, Employer/Payer Appointment of Agent, used to appoint agents under different arrangements to handle your payroll matters.
Learning Objectives: Employers may designate or enter into an agreement with a third party in which the third party agrees to take over some or all of the employer's Federal employment tax withholding, reporting and payment responsibilities and obligations. The following common third party arrangements will be covered in this program along with their pluses and minuses:
Questions that will be answered in the session:
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Bloomberg BNA is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org
Prerequisite: No prerequisites requiredLevel: Basic
Delivery Method: Group-Internet
Advanced Preparation: None requiredRecommended CPE Credit: 1.5
Recordings of the program do not qualify for CPE credits. For more information regarding administrative policies such as complaint and refund, please contact our offices at 800-372-1033.
Jerri Langer, Esq, COKALA Tax Information Reporting Solutions, LLC