New Tips and Overtime Tax Rules: Compliance and Best Practices (1 hour)

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

Notice

“Adding to Calendar” does not register you for this event. Please either register online by clicking “Add to Cart” or contacting OSCPA at 503-641-7200 / 800-255-1470, ext. 3. Thank you!