Payroll Withholding:
Legal Compliance for 2019
The IRS doesn't collect employees' taxes – you do. And, thanks to the tax reform law, your job is now harder than ever. Why? Because the way Americans figure their taxes has changed … and it's not exactly payroll-friendly.
Worse: The IRS wants to change the W-4 and the withholding process for 2020, and employers should start reprogramming their payroll software by this summer.
Discover the new compliance rules for withholding employees' taxes, child support, retirement contributions and more.
This webinar recording is especially timely because the tax reform law has fundamentally changed payroll administration. As a result, many of your employees were probably seriously underwithheld in 2018, and they may owe even more to the IRS next year. And who will they blame again next tax season when they're writing a check to the U.S. Treasury? You, naturally.
Currently, employers collect 78% of all federal revenue through withholding (see chart) – more than $2.6 trillion a year. You're also the nation's child support collector-in-chief. And don't forget employees' 401(k) contributions … they're withheld, too.
With such huge dollars at stake, you MUST get withholding right – every time. The IRS is especially on the lookout this year. In fact, the IRS' Criminal Division last year increased its criminal investigations of payroll cases by a whopping 34%! Why: Because that's where the easy money is. So, you can't afford to make a mistake … even an innocent one.
Use this webinar recording as a checklist to make sure your withholding practices are in total compliance. You will learn answers to questions like:
- Are all those W-4s still valid? To prevent IRS scrutiny and 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 outside vendors are only as good as the data you've supplied. Best practice: Figure your own withholding at least once a year. We'll decipher the IRS' step-by-step instructions that will allow you to do just that. Alert: Want to sue your payroll software company if they make a mistake? A federal court recently said "No." We'll discuss this critical case and the two simple steps to avoid a similar calamity.
- How do we 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 – even signing bonuses paid to employees who have yet to work one day.
- How do we handle garnishment orders? From child-support withholding to tax levies, learn the five types of garnishment orders and how to administer them. What if an employee is subject to more than one garnishment? Discover the priority rules and how federal and state law fit together (and what to do when they conflict).
- We use independent contractors, so no withholding, right? That's correct … most of the time. Discover the four types of business organizations that can land you in the IRS' backup withholding program – and the three crucial steps to avoid personal liability for failing to withhold.
If your withholding process was on "autopilot" before tax reform, it's time to take back control. Worse: You're likely just repeating the same mistakes every two weeks. And even if you farm out payroll to a third party, the IRS will always hold YOU responsible for any mistakes.
Spend 75 minutes now to do a thorough check-up of your withholding compliance. You could save yourself thousands of dollars in taxes and penalties – and a career black eye. Get your copy of Payroll Withholding now!
Sincerely,
Pat DiDomenico, Editorial Director
Payroll Legal Alert
P.S. Your satisfaction is unconditionally guaranteed. If Payroll Withholding fails to meet your needs, we will refund every penny you paid – no hassles, no questions asked.
Payroll Withholding
About Your Speaker:
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 Business Management Daily's Payroll Legal Alert, the Research Institute of America's Payroll Guide, Prentice Hall's American Payroll Association's Basic Guide to Payroll and the Payroll Manager's Letter. She's also the editor of Business Management Daily's Payroll Compliance Handbook and The Complete FLSA Compliance Kit.