Background

The end of the year is usually the busiest time of year for payroll professionals. Time for reconciling, calculating, and producing year-end forms and reports mandated by both federal and state agencies regarding taxes withheld and fringe benefits paid throughout the year.  Time again to prepare for the new year by updating wage bases, inputting new health and pension benefits pre-tax payroll deductions, changing per diem allowances, and more.

And while trying to find the time to celebrate the holidays with their friends and family, payroll professionals are very often stressed to the max with the task of making sure that all of these reports and files are completed correctly and on time.  

That’s where we can help.  AHI has teamed with payroll expert Vicki M. Lambert, CPP, to present a 90-minute audio conference that will  help you and everyone else involved in payroll operations navigate all of the complex compliance issues that affect this year-end and year-beginning time period.

Payroll Year-End Survival Guide: 
Get Ready For 2007

Ms. Lambert is a nationally recognized author and lecturer with over 30 years of multi-state payroll experience.  During the conference, she will cover crucial topics such as:

• Why you cannot use “magnetic media” in 2006 but must submit Form W-2 electronically
• How to reconcile Form W-2 to Form 941 and why it must be done
• What changes need to be made to your payroll software to ensure your first 2007 payroll runs smoothly including social Security wage bases, fringe benefits limitations, federal per diem allowances, etc.
• How to update your employees on the changes in the coming year by creating your own “State of the Payroll” message
• What are the best practices on organizing the payroll department for year end
• How to handle duplicate requests for Form W-2
• What are the best practices for gathering, calculating, and reconciling W-2 data
• How to make necessary adjustments after the W-2 has been calculated
• When to use the Form W-2c and when to correct the W-2 itself
• What state regulatory changes will affect your payroll operations
• How to complete and file Form 1099-MISC and Form 1099-R
• When everything must be filed to stay in full compliance  

Who Should Listen In

• Payroll professionals
• HR professionals
• Anyone in charge of payroll operations
  
  

Audio Conference Outline

IRS Update

• Details of limitations for IRS-Pension Plans for 2007
• Details of mileage rates, per diems, and delivery services for 2007
• Review of changes in IRS forms for 2006/2007, including Form 940, Form 8027, and Form 944
• Federal Reserve Board final rule on pay cards
• Requirements for periodic statements
• Alternatives to paper statements

SSA Update

• OASDI Wage Base for 2007
• Requirements for electronic filing of Form W-2c
• Online option for Form W-2c

State Update

• How to review SUI rates and wage bases
• Steps to check for EFT changes
• State law changes that must be updated

Compliance Issues

• Check taxation practices, wage and hour laws, and independent contractors
• Benefits of a self audit

Form W-2 Review

• Boxes to watch for
• Changes for 2006 form
• Electronic filing and elimination of magnetic media
• MMREF-1 changes for 2006
• 2007 filing deadlines
• Steps for correcting the Form W-2
• When to use Form W-2c
• Review of Employee Verification Service and Social Security Number Verification Service
• Reconciliation of Form W-2
• Reconciliation of Form 941 to Form W-2

Form 1099

• Form 1099-MISC
• Form 1099-R

State of the Payroll Address

• What to include
• When to issue

Year End

• Steps for preparing
• What to do after the final payroll

New Year

• How to prepare
• What to do before the first payroll
• What to do after the first payroll

Featured Speaker:

Vicki M. Lambert, CPP, is President and Academic Director for Vicki M. Lambert, LLC. As an Instructor and Curriculum Developer for 15 years, Ms. Lambert has trained thousands of payroll professionals from entry level to managers on the procedures and importance of payroll compliance.  Ms. Lambert has authored many nationally distributed works such as The Complete Guide to Federal and State Payroll Compliance as well as many other reference guides, newsletters, and articles.  Her latest book is a Payroll: A Guide to Running an Efficient Department.

This program has been approved for 1.5 recertification credit hours toward PHR, SPHR, and GPHR recertification through the Human Resource Certification Institute (HRCI). For more information about certification or recertification, please visit the HRCI homepage at www.hrci.org.