Overview
With 2025 underway, payroll professionals must stay ahead of the game by ensuring all payroll processes align with the latest tax regulations. This course focuses on the most significant changes that affect payroll operations, from IRS pension plan updates to state-specific wage adjustments. Whether you're preparing for new form revisions or adjusting to higher wage bases, this course has you covered for all the essential tax updates in 2025.
We will dive deep into the IRS changes for 2025, including updated pension plan limits, transportation fringe benefits, and revisions to key forms like W-2, W-4, and 941. On top of that, we'll cover state-specific updates, including new minimum wages, unemployment insurance wage bases, and sick leave policies. The session also includes insight into any late-breaking federal legislation that may impact payroll, ensuring you're fully equipped to manage these changes.
Areas Covered
- 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 for gathering, calculating, taxing and reconciling W-2 data all year long as is now expected by the IRS
- Taxation of fringe benefits 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 SSN’s
- Review of filing deadlines
- Review of federal tax legislation
