New Tips and Overtime Tax Rules: Compliance and Best Practices

Description

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

Objectives

	
• Apply new OBBA rules for reporting tips and overtime wages
	
• Identify key compliance issues
	
• Identify common compliance pitfalls and planning strategies

Designed For

CPAs, enrolled agents, payroll specialists and members in industry seeking an in-depth overview of tips and overtime reporting rules