IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Third-Party Sick Pay (OnDemand Webinar)

$149.00

SKU: 410809EAU

Description

Find out how to provide sick pay through a third party and learn the proper tax reporting obligations.This topic will examine thirdparty sick pay. Most employers provide some degree of wage protection for employees who miss work as a result of personal illness or injury. Sick pay paid directly by an employer generally is treated as ordinary wages, subject to withholding for federal employment taxes. FICA taxes, however, apply to such payments only for the first six months. This topic will discuss the details of providing sick pay through a third party, such as an insurance company, and its tax withholding ramifications. This topic will examine which portions of sick pay are subject to tax withholding and which are not. Also, we will look at which forms to complete when reporting this to the federal government.

Date: 2023-06-26 Start Time: End Time:

Learning Objectives

Federal Employment Tax Rules
• Relevant Definitions
• Splitting Employment Tax Responsibilities

Determining Payment to IRS
• Social Security Tax
• Medicare Tax
• FUTA
• Federal Income Tax

Liability
• Employer
• Third-Party Payer

Reporting Sick Pay
• Deposits
• Examples
• Form W-2
• Form W-3
• Form 940
• Form 941

Other Relevant Sick Pay Issues

CLE (Please check the Detailed Credit Information page for states that have already been approved) ,SHRM ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

David Schmidt-Ferguson Calder LLC, dba A2 Resources

IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Third-Party Sick Pay (OnDemand Webinar)

$209.00

SKU: 407626EAU

Description

Find out how to provide sick pay through a third party and learn the proper tax reporting obligations.This topic will examine thirdparty sick pay. Most employers provide some degree of wage protection for employees who miss work as a result of personal illness or injury. Sick pay paid directly by an employer generally is treated as ordinary wages, subject to withholding for federal employment taxes. FICA taxes, however, apply to such payments only for the first six months. This topic will discuss the details of providing sick pay through a third party, such as an insurance company, and its tax withholding ramifications. This topic will examine which portions of the sick pay are subject to tax withholding and which are not. Also, we will look at which forms to complete when reporting this to the federal government.

Date: 2020-07-20 Start Time: End Time:

Learning Objectives

Federal Employment Tax Rules
• Relevant Definitions
• Splitting Employment Tax Responsibilities

Determining Payment to IRS
• Social Security Tax
• Medicare Tax
• FUTA
• Federal Income Tax

Liability
• Employer
• Third-Party Payer

Reporting Sick Pay
• Deposits
• Examples
• Form W-2
• Form W-3
• Form 940
• Form 941

Other Relevant Sick Pay Issues

No Credit Available

Sulaksh Shah-PwC, Rohan Virginkar – Foley & Lardner LLP