New Tips and Overtime Tax Rules: Compliance and Best Practices
Online
1.00 Credits
Member Price $39.00
Non-Member Price $59.00
Overview
This program provides a comprehensive overview of the latest rules and regulations governing tips, overtime pay, and related tax obligations. Participants will learn how to calculate, report, and withhold taxes on tips; apply new overtime rules; and ensure compliance with the new federal law.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to terri.storer@acpen.com.
Objectives
- Apply new OBBA rules for reporting tips and overtime wages
- Identify key compliance issues
- Identify common compliance pitfalls and planning strategies
Highlights
- Updated OBBA guidance on tip reporting and allocation
- Qualifying tip requirements
- Self-employment and qualified tips
- Employer and employee tax responsibilities for tipped wages
- Overtime pay deduction
- Tip and overtime information returns
Designed For
CPAs, enrolled agents, payroll specialists and members in industry seeking an in-depth overview of tips and overtime reporting rules
Prerequisites
Basic knowledge of business taxation
Preparation
None
Notice
Your webinar can be accessed via https://ctcpas.acpen.com/. If you do not have an ACPEN account, please sign up for an account using the email address you have on file with CTCPA.
Leader(s):
Leader Bios
Steven Dilley, CPA, J.D., PhD, Federal Tax Workshops
Steve is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 33 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business and individual taxpayers. He has published numerous articles on these topics.
In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting. He received the 2005 "Distinguished Achievement in Accounting Education Award" in Michigan. He also received the 2007 "MSU Accounting and Information Systems Department Outstanding Teacher Award."
He obtained his Ph.D. in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.
Non-Member Price $59.00
Member Price $39.00