Form W4 - New Guidelines

OVERVIEW

In 2020, the IRS significantly revised the W4 form. Instead of employees simply completing the information about marital status and number of exemptions; they now have to calculate withholding to include additional amounts if they have a second job, a spouse with a job, or self-employment income. This was in response to what the IRS deemed a significant increase in liabilities owed by individual taxpayers at the end of tax years.

This took a lot of workers and payroll managers by surprise. Simple instructions became a complex maze of projections and calculations in order to compute the amount of FIT and SIT withholding from employee pay checks. So, join Mark Schwartz for this webinar, where you can learn to help employees complete this form.

WHY SHOULD YOU ATTEND?

How employees are to complete each section of the W4 based on their personal circumstances
When additional withholding should occur, and when it shouldn't
What changes to payroll systems became necessary due to the W4
Which existing workers should complete a new W4
What potential problems employees and employers face for under-withholding FIT and SIT payroll taxes
Which states accept the federal W4, and which have their own

AREAS COVERED

The new W4 - step by step
o Step 1: Personal info - including alternate relationships
o Step 2: How to determine if it applies. When and how to use the estimator, multiple jobs worksheet or check box c
o Step 3: Claiming dependents and calculating deductions
o Step 4: Considering other income and/or deductions. Entering voluntary additional withholding amounts
The multiple jobs worksheet with example
The Deductions worksheet with example
The withholding calculation chart with example
Other W4 forms and explanations for when to use them
o W4 P for pension and annuity payments
o W4 V the Voluntary withholding request
Form 1040 ES explanation
IRS Notice 1392 for non-resident aliens
States with their own W4 version
Do you need to complete a new W4?

WHO WILL BENEFIT?

This webinar will benefit:

Payroll and HR managers
Compensation and hiring staff
Finance and Operational managers
Executive Staff

Purchase options

Option	Price
Recorded Link Only	$199
Recorded USB Only	$299
Corporate Recording (Upto 10 Attendees)	$499

*Training USB will be shipped within 7-10 working days. *Buy Now Pay Later option is available in the payment cart page.
*In case you're unable to attend the live session, we'll make sure you receive the recording promptly.

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Email: [email protected]

Call: +1-855-202-3299

Mark Schwartz

MS Payroll, Employment Tax Consultant

About speaker

Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations. He is expert at defining regulatory and statutory requirements from local, State and Federal government agencies; and helping the average businessperson understand what that mean to their business. He has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits.

Mr. Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Mark has represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting your employees.

Mark prides himself on his outstanding customer service skills. He listens attentively to his clientele, helping them bridge the gap between the small business world and Government bureaucracy. He eagerly assists with clients needs, and feels that educating clients toward faster, accurate and more complete payroll processes provides the most value.

Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.