EVENT DESCRIPTION
Payroll tax compliance continues to evolve, with 2025 and 2026 bringing significant changes to employer obligations under the One Big Beautiful Bill Act (OBBBA), updated FICA thresholds, new tip and overtime deduction rules, and year-end reporting requirements. This course provides tax and accounting professionals with a comprehensive update on federal payroll tax law, including the latest guidance on Forms W-2 and W-3, Form 941 quarterly reconciliation, new employee compensation deduction provisions, and Maryland-specific payroll considerations including FAMLI. Practitioners will also review common year-end errors, amended return procedures, and best practices for advising employer clients through a clean, compliant close of year.
EVENT OBJECTIVE
Upon completion of this course, participants will be able to:
• Identify the 2026 FICA wage base thresholds for Social Security and Medicare and calculate employer and employee withholding obligations for various compensation scenarios
• Explain the OBBBA tip and overtime deduction provisions, including eligibility requirements, wage base definitions, and employer reporting responsibilities under current IRS guidance
• Prepare and reconcile Form 941 quarterly payroll tax deposits with year-end totals and identify common discrepancies that trigger IRS notices
• Complete Forms W-2 and W-3 accurately, including proper coding of OBBBA-affected compensation, fringe benefits, retirement plan contributions, and Maryland FAMLI withholding
• Describe Maryland FAMLI program requirements, including the January 1, 2027 deduction start date, employee/employer contribution rates, and correct payroll system setup for 2027 readiness
• Apply amended return procedures for correcting prior-period payroll errors, including Forms W-2c, W-3c, and 941-X, with attention to interest and penalty mitigation
• Advise employer clients on year-end payroll checklist best practices, including verification of employee data, reconciliation of payroll records to general ledger, and deposit schedule compliance
