Live Webinar

Form W-4 for 2021

Webinar Details $219

  • Webinar Date: June 8, 2021
  • Webinar Time: 2:00pm - 3:00pm EDT   live
  • Webinar Length: 60 Minutes
  • Guest Speaker:   Vicki Lambert
  • Topic:   Human Resources, Taxation and Accounting
  • Credit:   CPE 1.0, HRCI 1.0, SHRM 1.0, RCH 1.0
All Access Membership
This webinar covers IRS Form W-4 for 2021 including the requirements for completing the form properly, handling non-resident aliens, state equivalent forms, record retention and processing the form electronically instead of on paper. We will also discuss best practices for processing more efficiently within the department.

Background:
The importance of the Form W-4 is fundamental to the payroll department. It is the foundation for the taxation of an employee’s paycheck as well as a required IRS form.  Failure to handle the form correctly and completely can open the door to serious problems not only in properly withholding from the employee’s gross wages but could extend beyond the regulations and affect payroll customer service or employee morale. It can also lead to costly expenditures of time and budget resources to correct non-compliance consequences. 
Questions arise in processing the forms almost daily in a payroll department. Is it a valid form? If not, what should payroll do to correct the problem? Did the employee check the box on Line 2c? Did the employee complete Step 4? These are the types of questions that must be answered to process the form completely and correctly. And it is not just the federal form that payroll must process; many states have their own version of the form and now do not permit use of the federal form for state tax withholding.
Topics Covered Include:
Review of the latest draft form W-4 for 2021
Review of the employer instructions and publication 15-T
Examples of calculating income tax withholding
Discussion of how to handle calculating income tax withholding using prior versions of the form

Learning Objectives:
How to use the new form W-4 including the various new tables
 To understand the employer instructions in publication 15-T
Discover the various methods of calculating income tax withholding using current and prior year forms W-4.

Who can Benefit: 
Payroll Executives/Managers/Administrators/Professionals/Practitioners/Entry Level Personnel
Human Resources Executives/Managers/Administrators
Accounting Personnel
Business Owners/Executive Officers/Operations and Departmental Managers
Lawmakers
Attorneys/Legal Professionals
Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues

  1. Introduction
  2. Our Focus For Today 00:01:21
  3. Five Steps to Completion 00:02:54
  4. Five Steps to Completion (cont’d) 00:03:27
  5. Worksheets 00:04:57
  6. Multiple Jobs Household 00:05:14
  7. Multiple Jobs Household - Multiple Jobs Worksheet Step 2(b) 00:07:25
  8. Multiple Jobs Household  - Tax Table 00:07:56
  9. Worksheets - Worksheet Step 4(b) - Deductions Worksheet 00:10:18
  10. No Form? 00:11:49
  11. Claiming Exempt or NRA 00:13:25
  12. Step by Step Overview of the Form 00:16:41
  13. Step 1: Enter Personal Information 00:16:47
  14. Step 1: Enter Personal Information (cont’d) 00:21:51
  15. Step 2:Multiple Jobs/Spouse Works 00:22:21
  16. Step 2:Multiple Jobs/Spouse Works (cont’d) 00:23:05
  17. Step 3: Claim Dependants 00:23:44
  18. Step 4: Optional: Other Adjustments 00:25:29
  19. Step 4(a): Other Income 00:25:52
  20. Step 4(b): Deductions 00:28:17
  21. Step 4(c): Other Income 00:28:35
  22. Step 5: Sign Here 00:29:16
  23. Publication 15-T 00:31:15
  24. Publication 15-T (cont’d) 00:31:21
  25. Publication 15-T (cont’d) 00:32:46
  26. Employer Worksheets 00:33:02
  27. Employer Worksheet #1 00:33:32
  28. Employer Worksheet #2 00:34:01
  29. Calculating Withholding 00:36:40
  30. Example 1 00:36:42
  31. Example 1 Tax Table 00:38:01
  32. Example 1 - Employer Worksheet 00:38:47
  33. Example 2 00:43:50
  34. Example 2 Form W-4 00:44:04
  35. Example 2 Employer Worksheet 00:44:36
  36. Example 3 Form W-4 00:48:55
  37. Example 3 Tax Table 00:50:50
  38. Example 3 Employer Worksheet 00:51:12
  39. Employee Withholding Certificates - The States 00:57:12
  40. Examples 00:57:42
  41. Form W-4 Equivalents Map 00:58:08
  42. Final Questions 01:00:13
  43. Presentation Closing 01:14:56

    • Arizona Form A-4 00:54:45
    • California DE4 Form 00:58:00
    • Deductions Worksheet Step 4(b) 00:05:11, 00:10:23
    • Dependent 00:23:46
    • Exempt 00:11:53, 00:13:29
    • Form W-4 00:01:18, 00:10:49, 00:43:53
    • Head of Household 00:20:53
    • Multiple Jobs Worksheet Step2(b) 00:05:09, 00:07:25
    • Nonresident Alien (NRA) 00:15:27, 00:21:52
    • Notice 1392 00:22:02
    • Publication 15-T 00:01:42, 00:22:12, 00:31:21
    • Tax Cuts and Jobs Act 00:02:03
    • Tax Withholding Estimator 00:06:11

    Form W-4: Form W-4 (otherwise known as the "Employee's Withholding Allowance Certificate") is an Internal Revenue Service (IRS) tax form completed by an employee in the United States to indicate his or her tax situation (exemptions, status, etc.) to the employer.

    Tax Cuts and Jobs Act: The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, Pub.L. 115–97, is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs Act, that amended the Internal Revenue Code of 1986.

    Nonresident Alien (NRA): This income is taxed at a flat 30% rate, unless a tax treaty specifies a lower rate. Nonresident aliens must file and pay any tax due using Form 1040NR, U.S. Nonresident Alien Income Tax Return or Form 1040NR-EZ, U.S. Income Tax Return for Certain Nonresident Aliens with No Dependents.

    Exempt : Exempt employee is a term that refers to a category of employees set out in the Fair Labor Standards Act. They do not receive overtime pay, nor do they qualify for the minimum wage

    Publication 15-T: Employers use Publication 15-T to figure the amount of federal income tax to withhold from their employees' wages.

    Dependent: A dependent is a person other than the taxpayer or spouse who entitles the taxpayer to claim a dependency exemption. Each dependency exemption decreases income subject to tax by the exemption amount. Your dependent must be a U.S. citizen, a national, a resident alien of the U.S., or a resident of Canada or Mexico. A dependent can be claimed by one and only one taxpayer in any given year.

    Multiple Jobs Worksheet Step2(b): If you choose the option in Step 2(b) on Form W-4, complete this worksheet (which calculates the total extra tax for all jobs) on only ONE Form W-4. The IRS advises that the worksheet should only be completed on one W-4 form and the result should be entered for the highest paying job only, to end up with the most accurate withholding.

    Deductions Worksheet Step 4(b): Fill out this section if you expect to claim deductions (such as itemized deductions) other than the standard deduction and want to reduce your withholding. To estimate your 2020 deductions use the Deductions Worksheet provided on page three of the W-4 form.

    Head of Household: Head of Household is a filing status for individual United States taxpayers. To use the Head of Household filing status, a taxpayer must: Be unmarried or considered unmarried at the end of the year. Have paid more than half the cost of keeping up a home for the tax year.

    Arizona Form A-4: Arizona law requires your employer to withhold Arizona incometax from your wages for work done in Arizona. The amountwithheld is applied to your Arizona income tax due when youfile your tax return. The amount withheld is a percentage ofyour gross taxable wages from every paycheck. You mayalso have your employer withhold an extra amount from eachpaycheck.

    Tax Withholding Estimator: The IRS encourages everyone to use the Tax Withholding Estimator to perform a “paycheck checkup.” This will help you make sure you have the right amount of tax withheld from your paycheck.

    California DE4 Form: This certificate, DE 4, is for California Personal Income Tax (PIT) withholding purposes only. The DE4 is used to compute the amount of taxes to be withheld from your wages, by your employer, to accurately reflect your state tax withholding obligation.

    Notice 1392: This Notice modifies the instructions to Form W-4 to take into account the restriction on a nonresident alien's filing status, the restriction on claiming the standard deduction, and the restriction on claiming tax credits and deductions for certain Nonresident aliens.


    Guest Speaker

    • Vicki M. Lambert, CPP