2026 Form W-2 Updates: No Tax on Tips & Overtime Under the OBBB Act

Description: 

A major task of Payroll departments is providing W-2 Forms to employees and to the Social Security Administration. The Forms must be correct, complete, and filed on time or the employer may face stiff penalties. This webinar will discuss new reporting requirements and changes to the 2026 Form W-2 under the “No Tax on Tips” and “No Tax on Overtime” provisions of the One Big Beautiful Bill Act.

The webinar covers steps to take now to prevent or reduce filing problems and errors and how to handle special filing situations. How to verify employee name/number combinations, and how to file the forms electronically as well as on paper. It will identify common and not so common errors and adjustments that affect Forms W-2 and the steps to take when errors are discovered, cover the use of Form W-2c to make corrections and the due diligence steps that can establish reasonable cause for penalty abatement. 

Why You Should Attend:

Payroll taxes are a serious issue for the IRS. Two thirds of federal taxes are collected through the payroll tax system. By law, employers must withhold federal income, Social Security and Medicare taxes from employees’ wages. Employers are required to timely and correctly report this information using Form W-2 to both the Social Security Administration and to employees or face stiff penalties for noncompliance. 

This webinar will provide you with information and resources you need for successful compliance with the reporting requirements and for establishing due diligence and reasonable cause for penalty avoidance when errors occur or corrections need to be made. 

Areas Covered:

• New recordkeeping and reporting requirements for qualified tips and qualified overtime.
• Definition of qualified tips • Definition of qualified overtime and how to compute it.
• How Social Security resources can be used to prepare, submit, and correct W-2 forms
• Due dates for filing and furnishing W-2 Forms and penalties for non-compliance
• Penalties for late or incorrect W-2 Forms: Due diligence procedures to avoid penalties
• Actions to be taken before year end to avoid employee information errors
• Forms W-2 and W-3 line by line: What goes in all those boxes?
• New Box 12 codes for 2026
• Changes made to current Forms W-2 and W-3
• The common W-2 errors, how to avoid them and how to correct them
• What to do when an employee’s name or tax ID number is incorrect
• Methods to reconcile Forms W-2 and 941 and what to do if differences are discovered

Who should attend: 

• Accounting professionals who are involved in the processing of Form W-2
• Payroll Supervisors and Personnel
• Payroll Consultants and Payroll Service Providers
• Public Accountants and Enrolled Agents
• Internal Auditors and Tax Compliance Officers
• Employee Benefits Administrators
• Officers and Managers with Payroll or Tax Compliance Oversight
• Company / Business Owners
• Managers/ Supervisors
• Public Agency Managers
• Audit and Compliance Personnel / Risk Managers

Ask your question directly from our expert during the Q&A session following the live event.