NOT1955. Common Tax Errors in Employee Compensation and Benefits

Track: 
Tax
Field of Study: 
Taxes
CPE Credit: 
1.5
Knowledge Level: 
Intermediate
Advanced Preparation: 
None
Prerequisite: 
Basic knowledge of not-for-profit operations, auditing, accounting and/or compliance requirements. General experience working in, or auditing, not-for-profits, including those NFPs audited under GAGAS.

Wednesday, June 12, 2019
 
7:30AM-8:45AM

This session will feature speakers who have specialized in the taxation of employee compensation and benefits for a combined total of over 40 years. During this session, the speakers will share the most common mistakes they have seen over the years in correctly applying rules that govern the taxation and reporting of compensation and benefits. The session will also include a discussion of how to correct errors when they are discovered.

Learning Objectives:

  • Identify common errors in the tax treatment of employee compensation and benefits, such as applying FICA and income taxes at the wrong time for deferred compensation
  • Calculate penalties associated with employee compensation and benefits tax errors
  • Select acceptable methods to correct employee compensation and benefits tax errors


SESSION SPEAKER(S)

CPA
Retired Partner | Grant Thornton LLP
CPA
Partner | Grant Thornton LLP