As you prepare for the upcoming tax season, there are several compliance updates in household employment that require your attention to keep your clients compliant with tax, wage, and labor laws. Paid leave requirements, tax credits, who is considered a household employee, and even the way household employment taxes are filed have changed this year.
There are already enough nuances to household payroll and taxes to trip up many families and their accountants. The pandemic has added another layer of complexity, making it even more difficult to get compliance right. It’s critically important to understand nanny taxes and provide the right guidance to your clients. Mistakes can lead to fines and penalties for your clients and possibly damage their relationship with your firm.
In this presentation, GTM Payroll Services – since 1991, a leading provider of household tax, payroll, and insurance services to thousands of families nationwide – will review what has changed and actions you need to take to keep your clients compliant. We will also look ahead to 2021 to prepare you for what is in store for the new year.
Learning Objectives:
GTM Payroll Service
Marketing Manager
t.sparks@gtm.com
(518) 881-0211
Trevor Sparks is the marketing manager for GTM Payroll Services, specializing in household payroll processing, tax management, and compliance for families that hire employees to work in their homes. He has developed numerous CPE presentations for AICPA conferences on the latest compliance rules in household employment, how to handle payroll and taxes for clients who hire in-home senior care, and keeping clients with household help compliant, among other topics. Trevor also develops and produces GTM's in-house CPE webinar and writes regularly on the subject of household employment compliance for GTM's blog.
CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222
CPAacademy.org (Sponsor Id#: HURS9) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222