On July 4th 2025, President Trump signed in the One Big Beautiful Bill Act into law. This legislation is sweeping legislation that impacts many areas in the United States, perhaps none more so than Payroll.
There are major impacts coming to employers and payroll departments across the national, including changes in taxation and W-2 reporting changes that are retroactive active back to January of 2025.
What You'll Learn:This training session will review of all aspects of the act, focusing on how employers can enact the required changes that they will need to comply with by the end of 2025. Key topics include:
- Review of the permanent extension of the Tax Cuts and Jobs Act
- The rules on "no tax on tips"
- What does "no tax on tips" really mean - and how employers can implement the new rules for their tipped employees
- Overtime taxation changes - and how will employers manage the changes
- Details of increases in Form 1099-MISC and Form 1099-NEC reporting thresholds
- Updates to personal exceptions and child tax credits
- Updates to transportation and moving expense taxation
Plus updates for "Trump Accounts", student loan changes, and employer meals.
