A major task of Payroll departments is providing W-2 Forms to employees and to the Social Security Administration. The Forms must be correct, complete, and filed on time or the employer may face stiff penalties. This webinar will discuss new reporting requirements and changes to the 2026 Form W-2 under the “No Tax on Tips” and “No Tax on Overtime” provisions of the One Big Beautiful Bill Act.
The webinar covers steps to take now to prevent or reduce filing problems and errors and how to handle special filing situations. How to verify employee name/number combinations, and how to file the forms electronically as well as on paper. It will identify common and not so common errors and adjustments that affect Forms W-2 and the steps to take when errors are discovered, cover the use of Form W-2c to make corrections and the due diligence steps that can establish reasonable cause for penalty abatement.
Payroll taxes are a serious issue for the IRS. Two thirds of federal taxes are collected through the payroll tax system. By law, employers must withhold federal income, Social Security and Medicare taxes from employees’ wages. Employers are required to timely and correctly report this information using Form W-2 to both the Social Security Administration and to employees or face stiff penalties for noncompliance.
This webinar will provide you with information and resources you need for successful compliance with the reporting requirements and for establishing due diligence and reasonable cause for penalty avoidance when errors occur or corrections need to be made.
Patrick Haggerty is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice. He began teaching accounting at the college level in 1988.
He is licensed as an Enrolled Agent by the U. S. Treasury to represent taxpayers at all administrative levels of the IRS and is a Certified Management Accountant. He has written numerous articles and a monthly question and answer column for payroll publications. In addition, he regularly develops and presents webinars and presentations on a variety of topics including Payroll tax issues, FLSA compliance, and information return reporting.
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