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U.S. Payroll Year End Preparation & Regulatory Updates
This course is designed for Payroll, HR, and finance professionals who are responsible for overseeing annual payroll closing activities in the United States.
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About this course
This course is designed for Payroll, HR, and finance professionals who are responsible for overseeing annual payroll closing activities in the United States.
What will you achieve?
Participants will gain a comprehensive understanding of year-end requirements, new legislative changes, and updated agency guidance impacting payroll operations. You will learn how to prepare accurate year-end returns, incorporate late-breaking regulatory changes, and implement new employer obligations. You will also strengthen your ability to anticipate compliance risks and proactively adjust policies, systems, and processes—skills necessary even when payroll is outsourced, as employers remain
accountable for accuracy.
accountable for accuracy.
What will be covered?
Year-End Reporting Essentials
Annual reconciliation of wages, taxes, and employer contributions
W2 reporting accuracy, BoxbyBox updates, and corrections
Preparing Forms 940, 941 (Q4), 943/944 where applicable
Handling adjustments (Forms W2c, 941X) and amended filings
Regulatory & Legislative Updates (Annual Review)
Covering new federal, state, and local rules affecting:
Tax withholding methodology changes
IRS guidance updates
FICA wage base adjustments
FUTA credit reductions
State disability, paid family leave, and long-term care tax rate updates
Payroll-related agency changes announced throughout the year (IRS, DOL, SSA)
Fringe Benefit Year-End Taxation Updates
New IRS limits (transportation, retirement plans, adoption benefits, etc.)
Review of taxable vs. nontaxable fringe benefits at year-end
Imputed income finalization (Special Accounting Rule)
Vendor & System Readiness
Year-end cutoff planning and blackout periods
Validating system updates, rate tables, and yearend programming
Ensuring correct configuration of taxable benefits, earnings codes, and new legislation
Looking Ahead: Preparing for the New Payroll Year
Updating tax tables, unemployment rates, and limits
Reviewing employee elections (W4, benefits, HSA/FSA)
Setting compliance checkpoints and annual audit cycles
Implementing policy/process changes triggered by new legislation
Annual reconciliation of wages, taxes, and employer contributions
W2 reporting accuracy, BoxbyBox updates, and corrections
Preparing Forms 940, 941 (Q4), 943/944 where applicable
Handling adjustments (Forms W2c, 941X) and amended filings
Regulatory & Legislative Updates (Annual Review)
Covering new federal, state, and local rules affecting:
Tax withholding methodology changes
IRS guidance updates
FICA wage base adjustments
FUTA credit reductions
State disability, paid family leave, and long-term care tax rate updates
Payroll-related agency changes announced throughout the year (IRS, DOL, SSA)
Fringe Benefit Year-End Taxation Updates
New IRS limits (transportation, retirement plans, adoption benefits, etc.)
Review of taxable vs. nontaxable fringe benefits at year-end
Imputed income finalization (Special Accounting Rule)
Vendor & System Readiness
Year-end cutoff planning and blackout periods
Validating system updates, rate tables, and yearend programming
Ensuring correct configuration of taxable benefits, earnings codes, and new legislation
Looking Ahead: Preparing for the New Payroll Year
Updating tax tables, unemployment rates, and limits
Reviewing employee elections (W4, benefits, HSA/FSA)
Setting compliance checkpoints and annual audit cycles
Implementing policy/process changes triggered by new legislation