Payroll Tax Penalties: How to Avoid, Reduce, and Mitigate Costly Compliance Mistakes
Live Webinar: Wednesday, May 31, 2017
1:30 p.m. to 3:00 p.m. Eastern / 10:30 a.m. to 12:00 p.m. Pacific
The buck stops with your company when payroll tax missteps occur. If the IRS finds an error, it falls to your company to correct the defect and pay the price of costly penalties. And, if you use an outside payroll service company to manage things for you, your company could still be held liable as a result of their missteps.
HR professionals have a lot of information to keep track of generally—from federal and state income taxes withheld from pay, FICA (Social Security and Medicare) taxes, federal unemployment taxes, and state unemployment taxes. How can you ensure that your payroll taxes are paid properly and on time, and/or avoid having too many mistakes?
Join us for our in-depth webinar on May 31 when an employment attorney/HR consultant and a CPA will explain how to mitigate payroll tax legal risks and avoid a situation where your organization is stuck paying those annoying—and downright costly—payroll tax penalties.
You’ll learn how to:
- Ensure that you have gathered the correct data for evaluating whether payroll tax practices could present legal liabilities for your company
- Keep careful and correct payroll records
- Correctly classify workers—from employees to independent contractors
- Make payroll tax payments on time—and avoid fees
- Avoid paying creditors before paying the IRS—and why a buffer fund is important
- Question your outside payroll service provider to ensure that their practices don’t spark legal liabilities for your company
- Spot and fix payroll tax errors in a way that reduces your company’s exposure to costly penalties
- Monitor your tax account to ensure that payments are being made correctly and on time
- And much more!
About Your Presenters:
Kate Bischoff, Esq., SHRM-SCP/SPHR
tHRive Law & Consulting LLC
An enthusiastic management-side attorney and SHRM-SCP/SPHR-certified human resources professional, Kate Bischoff advises organizations in a wide range of industries on employment law and employment decisions, from recruitment and workplace culture to terminations. Her strengths include ensuring human resources policies and practices are compliant with federal and state laws, training employees and managers on equal employment opportunity and other supervisory topics, and handling investigations into employee grievances and complaints. Ms. Bischoff is passionate about improving company culture and using technology (social media and big data) in the workplace. Ms. Bischoff also litigates employment cases, including discrimination, harassment, wage and hour, and contract matters. After several employment law trials, she speaks from experience when advising clients when administrative and court matters commence. Prior to founding tHRive Law & Consulting, Ms. Bischoff worked as an attorney at Zelle LLP and served as a human resources officer for the United States Department of State at the U.S. Embassy Lusaka, Zambia and for the U.S. Consulate General Jerusalem.
Elizabeth Bystrom CPA, Ltd.
Elizabeth Bystrom is the owner and founder of her consulting practice, Elizabeth Bystrom CPA, Ltd. The company is a small business built on relationships and Ms. Bystrom’s technical specialties include small business consulting and individual income tax. Before building her own business, Ms. Bystrom worked for some of the brightest minds available at Redpath & Co. During her career with Redpath & Co, she worked in widely various departments over the course of ten years. She spent time in compilation and review, sales tax and payroll tax compliance, payroll research, and management of bookkeeping and accounting staff. Working in the corporate tax department brought Ms. Bystrom to both accounting consulting with corporate tax clients, as well as corporate income tax. Her final five years with Redpath & Co. were spent in the individual income tax department, working closely experienced tax partners.
Ms. Bystrom built her own business to enable her to achieve a work/life balance that suited her family. She is licensed as a Certified Public Accountant in the state of Minnesota, and spokesperson for the MNCPA.