Description

Navigating payroll and accounts payable (AP) responsibilities can be complex, particularly when compliance and tax regulations are involved. Miscommunication between these departments can lead to costly errors, tax penalties, and compliance risks. But what if AP and Payroll worked together seamlessly?

This course will equip you with the knowledge to streamline operations and reduce financial risk, from handling IRS reporting to properly classifying workers. In this course, we’ll clarify the responsibilities of AP and Payroll in areas where their duties overlap. You'll gain a deeper understanding of tax reporting requirements, business expense management, and best practices for processing payments, including director fees, death benefits, and legal settlements. By breaking down IRS regulations and recent Department of Labor (DOL) updates, we’ll guide you in making informed decisions that safeguard compliance.

Learning Objectives:-

• Identify AP and Payroll responsibilities for tax reporting and compliance.
• Differentiate between employees and independent contractors under the new DOL guidelines.
• Explain the tax treatment of director fees, death payments, and settlements.
• Recognize common compliance mistakes that lead to costly penalties.
• Establish communication strategies for effective AP and Payroll collaboration.

Areas Covered in the Session:-

• AP and Payroll Roles
• IRS Reporting Compliance
• Worker Classification Rules
• Payment Handling Best Practices
• Cross-Team Communication

Join us to enhance your expertise, minimize compliance risks, and foster a trusted partnership between AP and Payroll. This webinar is a must-attend for professionals seeking to enhance efficiency, ensure accurate reporting, and establish a seamless workflow across departments.

Who Will Benefit?

• Payroll Professionals
• Accounts Payable Specialists
• HR Managers
• Compliance Officers
• Finance Managers
• Tax Professionals
• Controllers
• Business Owners.