Using PPC's unique “Key Issue” approach we've identified and solved many of the tough reporting problems you will face when preparing payroll and information reporting forms. Our easy-to-understand practical coverage helps practitioners understand the complex, cumbersome, and constantly changing payroll rules. It contains specific line-by-line guidance for preparing and filing the most commonly used payroll and information reporting forms including Forms W-2, W-4, W-5, 940, 941, 943, 944, 945, 1040 (Schedule H), 1099 series, and 8027.
This Deskbook provides protection against costly payroll compliance penalties by furnishing the latest judicial, legislative, and administrative developments needed to comply with all federal withholding, deposit, and reporting requirements in an effective and efficient manner for a particular filing year. It also provides easy-to-understand coverage of other important payroll topics such as worker classification and Section 530 relief and paying U.S. citizens and resident aliens working abroad. Also included is information on the IRS's recent audit initiatives in the payroll area and tools to help ensure clients are in compliance with the laws.
Save time with our quick reference charts reflecting the latest tax year information, withholding tables, calendars of deposit and filing due dates, checklists, federal forms, and worksheets. The Deskbook also contains numerous payroll savings ideas, tips, and cautions as well as examples and filled-in-forms that make it easier to understand many of the concepts covered.
Other current update features of this Deskbook that make it a Must Have include:
- American Taxpayer Relief Act of 2012 (ATRA). Many provisions of the ATRA affected employment taxes and employer-provided benefits. Discussions throughout the Deskbook include the latest information on the changes made by the ATRA, including the extension of several employer-provided tax-free benefits.
- Increased Social Security Tax Rate. Beginning in 2013, the employee social security tax withholding rate reverts to 6.2% (instead of the 4.2% rate used in 2012). Discussions through the Deskbook reflect the higher withholding rate.
- Work Opportunity Tax Credit (WOTC) Extension. The WOTC expired in 2011 for all targeted groups except qualified veterans. The ATRA retroactively extended the WOTC for these targeted groups. The current edition includes information on the extended credit.