Payroll 210 Badge #06 - Federal and State Tax Reporting-Payroll 210 Badge #6

Video Transcription

Video Summary

This training (WASBO Payroll 210 Badge 6) outlines federal and Washington State tax reporting responsibilities for school district payroll professionals. Key duties include collecting and reviewing employee tax/employment forms, staying current on changing laws, and processing payroll accurately and on time under district policy, bargaining agreements, RCWs/WACs, and the Common School Manual.<br /><br />Federal topics cover constructive receipt (taxes apply when wages are paid), timely federal tax deposits via EFTPS, and quarterly IRS Form 941 reporting of employee withholdings plus employer/employee Social Security and Medicare. Corrections are supported with Form 941C, and large liabilities may require Schedule B. Payroll staff should not sign Form 941; an authorized administrator should. Emphasis is placed on monthly/quarterly/annual reconciliation so payroll registers, deposits, Form 941 totals, and year-end W-2s match to the penny.<br /><br />W-2 requirements include issuing statements to all employees (no minimum), meeting the January 31 deadline, safeguarding reissues, and understanding Box 1 taxable wages (adding items like third-party pay and excess life; excluding retirement deferrals, cafeteria plans, VEBA, etc.).<br /><br />The course also covers ACA Forms 1094-C/1095-C for applicable large employers, taxable fringe benefit rules (travel meals, life insurance), and Washington Paid Family & Medical Leave quarterly reporting and premium calculations, plus key reference resources and assessment requirements.

Keywords

WASBO Payroll 210 Badge 6

school district payroll tax reporting

IRS Form 941 quarterly filing

EFTPS federal tax deposits

W-2 wage and tax statement requirements

ACA Forms 1094-C and 1095-C

taxable fringe benefits payroll

Washington Paid Family and Medical Leave reporting