Federal law requires most employers to withhold federal income taxes from their employees’ wages. These taxes must be deposited, along with the employer and employee portion of Social Security and Medicare taxes, and reported to the IRS. Last year, the IRS processed over 30 million employment tax returns and collected over $1 trillion in employment taxes.
The IRS’s free 60-minute webinar is open to tax professionals, employers and anyone else interested in the topic. One continuing education may be earned by tax professionals. Subjects such as common mistakes, how employers can monitor and limit their risks, as well as options for delinquent businesses to repay back taxes will be discussed.
The webinar will provide an overview of:
- Common employment/payroll tax mistakes businesses make.
- Mitigating risks when using a third party to handle employment/payroll tax.
- Tools and advice for employers on how to monitor their compliance and limit risks.
- IRS help for businesses behind on their employment/payroll taxes.
- IRS enforcement authority (liens, levies, seizures and criminal referrals).
A live question and answer session will be included to help attendees understand how to best meet these obligations and stay compliant. The webinar will be Thursday, Aug. 1, 2019, at 2:00 p.m. (ET). Interested participants can register online.