Draft Form W-4 2020 and how it impacts employers
Dec of 2017 The Tax Cuts and Jobs Act was passed and it was one of the most significant tax changes in sometime. The change to the W-4 due to Tax reform will be the largest change to the form in US History. This webinar will prepare the payroll professional to understand the changes to the form W-4 for 2020 and to review the recently released draft on May 31 of 2019. Before these changes the Form W-4 was a critical form that all companies have to obtain from employees, that drives how federal income withholding tax is calculated. The IRS released Publication 15-T on June 7, 2019 which gave instruction on how the new form will impact taxation. A review of publication 15-T and the steps to completed federal tax withholding calculations will be reviewed. All IRS specific laws around processing of the Form W-4 today and tomorrow discussed.v
Benefits of Participation:
• Understanding the proper way to process a federal W-4
• What should be the proper process for an invalid W-4 today and how it will look in 2020?
• Proper processing and maintenance of a IRS lock in letter
• Electronic W-4 requirements and what the new form means for employers with electronic W-4 systems
• Understanding the requirements around Form W-4 and how an employer can be at risk
• IRS Form W-4 change requirements and how it affects you as an employer
• Employer notification requirements and important deadlines for both Form W-4
• Discussion on what make the Form W-4 invalid
• Review of the tax reform legislation and how it affected the Form W-4
• Best Practices on how employers can better communicate W-4 changes to employees
Dayna is currently the Payroll Tax Manager at PetSmart Inc. Dayna has been heavily involved in the payroll field over 15 years. Starting as a payroll clerk at a small Tucson company, Dayna moved on to be a Payroll Team Leader at Honeywell Inc. During Dayna’s time at Honeywell she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. She also received several merit awards for Customer Service and Acquisitions and Divestitures. Dayna is no stranger to teach... View Full Profile
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