New Tips and Overtime Tax Rules: Compliance and Best Practices
1.00 Credits
Member Price $39
Non-Member Price $59
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.
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
Prerequisites
Basic knowledge of business taxation
Designed For
CPAs, enrolled agents, payroll specialists and members in industry seeking an in-depth overview of tips and overtime reporting rules
Objectives
- Apply new OBBA rules for reporting tips and overtime wages
- Identify key compliance issues
- Identify common compliance pitfalls and planning strategies
Preparation
None
Leader(s):
Leader Bios
Steven Dilley, Federal Tax Workshops
Steven C. Dilley, CPA, JD, PhD, is president of Federal Tax Workshops, Inc., located in East Lansing, Michigan. 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, where he teaches tax accounting and has recently received two teaching awards. 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
Member Price $39