Who is this course for?

This course is designed for Payroll, HR, and finance professionals who are responsible for overseeing annual payroll closing activities in the United States.

What will you achieve?

Participants will gain a comprehensive understanding of year-end requirements, new legislative changes, and updated agency guidance impacting payroll operations. You will learn how to prepare accurate year-end returns, incorporate late-breaking regulatory changes, and implement new employer obligations. You will also strengthen your ability to anticipate compliance risks and proactively adjust policies, systems, and processes—skills necessary even when payroll is outsourced, as employers remain
accountable for accuracy.

What will be covered?

Year-End Reporting Essentials

• Annual reconciliation of wages, taxes, and employer contributions
• W2 reporting accuracy, BoxbyBox updates, and corrections
• Preparing Forms 940, 941 (Q4), 943/944 where applicable
• Handling adjustments (Forms W2c, 941X) and amended filings

Regulatory & Legislative Updates (Annual Review)

• Covering new federal, state, and local rules affecting:
• Tax withholding methodology changes
• IRS guidance updates
• FICA wage base adjustments
• FUTA credit reductions
  
• State disability, paid family leave, and long-term care tax rate updates
• Payroll-related agency changes announced throughout the year (IRS, DOL, SSA)

Fringe Benefit YearEnd Taxation Updates

• New IRS limits (transportation, retirement plans, adoption benefits, etc.)
• Review of taxable vs. nontaxable fringe benefits at year-end
• Imputed income finalization (Special Accounting Rule)

Vendor & System Readiness

• Year-end cutoff planning and blackout periods
• Validating system updates, rate tables, and yearend programming
• Ensuring correct configuration of taxable benefits, earnings codes, and new legislation

Looking Ahead: Preparing for the New Payroll Year

• Updating tax tables, unemployment rates, and limits
• Reviewing employee elections (W4, benefits, HSA/FSA)
• Setting compliance checkpoints and annual audit cycles
• Implementing policy/process changes triggered by new legislation

Summary

This annual update course provides the knowledge required to navigate U.S. payroll year-end obligations confidently. It equips professionals with the technical insight needed to incorporate regulatory updates, accurately reconcile year-end filings, and mitigate compliance risk.

Participants will finish prepared to manage yearend close efficiently, meet all federal and state deadlines, and initiate the new payroll year with fully compliant processes, accurate records, and a proactive regulatory outlook.