Form W-4 and 2022 Withholding:
Compliance Training for Payroll and HR
Compliance Training for Payroll and HR
The W-4 used to be a simple half-page. Now it looks like a tax return and employees have to do the math!
More than two years into this new W-4 format, the new withholding rules are still sparking lots of confusion among both employees and Payroll and HR professionals.
The latest change: The IRS didn’t inflation-adjust the W-4 withholding amounts for 2022. As a result, employees who don’t check their withholding this year may be under- or overwithheld and they’ll blame you next year when they have to write a check to the U.S. Treasury.
This revamped W-4 remains a big change: no pay period withholding, no withholding allowances for employees to claim and no more inflation adjustments to the withholding adjustment amounts. And the IRS just keeps piling it on. To deal with the two withholding systems it inadvertently created—one based on old W-4s and withholding allowances and the other based on the new W-4 and no withholding allowances—the IRS has created a “computational bridge” that complicates your process further upfront, but which may ease your compliance burdens down the line.
Is your W-4 process in compliance? Discover the new rules for employee withholding and get all of your questions answered. And remember, even if you outsource payroll to a third party, the IRS will always hold YOU responsible for any mistakes—so it's your job to guarantee compliance.
Agenda for Form W-4 and 2022 Withholding:
- What’s new about the W-4 process and how to quickly get your company into compliance.
- What those W-4 worksheets are about and how they affect withholding. For years the IRS included worksheets along with the form. Most employees ignored them. Now they can't.
- How to help employees use the IRS' withholding estimator. Employees who've used the estimator are getting their withholding wrong. You can help.
- How to explain these changes to employees. When employees need (or choose) to update their W-4s, don't just hand them the confusing new form. Instead, create a communication plan to help employees fill out the form.
- What do we do if employees don't file a new W-4? Since most employees don't refile their W-4s, and the IRS says it can't make them refile, your payroll system must now account for two radically different W-4 forms and withholding methods. But don't worry—the IRS has a solution for this! And it works … sort of.
- Are all those old W-4s still valid? To prevent IRS penalties, learn the three circumstances that require employees to absolutely file new W-4s. Plus, discover the five situations in which you should immediately reject a W-4, and what to do when the IRS sends you a letter voiding an employee's W-4.
- Are your withholding processes correct? Computer programs and vendors are only as good as the data you've supplied. Best practice: Figure your own withholding at least once a year. (Doing so this year is a necessity!) We'll decipher the IRS' step-by-step instructions that let you do just that.
- What’s the impact of the pandemic? Employees you rehire may not have completed a W-4 in many years. They have to file the new form now, and you can help them avoid costly mistakes.
- How do you handle supplemental pay? You'll also be able to spot the 12 different types of supplemental pay (including noncash payments) and to apply the seven key rules for withholding on supplemental pay.
In this 90-minute training, you will learn how to:
- Get in compliance for 2022.
Discover if your W-4 and withholding processes are in compliance for this year.
- Adapt to the W-4 changes.
Understand how the IRS’ new “computational bridge” for employees who have old W-4s on file can make your payroll calculations easier.
- Explain it correctly to employees.
Learn how to communicate with your employees about this complex new form.
View a free clip:
Alice Gilman, Esq., is an expert in payroll and tax compliance who has covered payroll issues for more than 26 years. She's written and edited several leading payroll publications, including Payroll Legal Alert, the Research Institute of America's Payroll Guide, the American Payroll Association's Basic Guide to Payroll and the Payroll Manager's Letter.
Professional Certification Credit Hours Included:
Business Management Daily is recognized by SHRM to offer Professional Development Credits (PDC) for SHRM-CP® or SHRM-SCP® recertification activities.
HRCI has pre-approved this activity for recertification credit toward the aPHR®, PHR®, PHRca®, SPHR®, aPHRi™, PHRi™, GPHR® and SPHRi™ certifications. The content of the activity submitted has met the criteria of the Approved Provider Program.
Your satisfaction is unconditionally guaranteed:
If Form W-4 and 2022 Withholding: Compliance Training for Payroll and HR fails to meet your needs, we will refund every penny you paid – no hassles, no questions asked.