Description
Clear up questions on the effects that form W4 has on payroll.The 2018 Tax Cuts and Jobs Act (TCJA) resulted in sweeping changes to the tax codes. Because of these changes, the Form W4 required corresponding adjustments. After several drafts, the Internal Revenue Service (IRS) has published the final form to be used. It is imperative that payroll, accounting and human resource professionals are familiar with completing the 2020 Form W4 and understand the changes that have been made. While understanding the form is important, it is critical to understand how the form is used and why it is collected. The life cycle of the W4 begins with collection from the new hire, then on to the federal withholding calculation on each paycheck and ending annually on the W2. Understanding each step in this life cycle will prepare you for questions employees may have when completing the form or reviewing their paystubs or W2. You will be provided with the information and tools you need to understand, and help your employees understand, the sometimes complicated universe of federal employee taxation.
Date: 2019-12-13 Start Time: End Time:
Learning Objectives