The New W-4: How to Comply with Radical Withholding Changes

Wage Garnishments

If your job has anything to do with payroll, pay attention: Thanks to the tax reform law, your job just got harder. That's because the IRS has radically changed the W-4 form and the withholding methods for 2020 to something entirely new … no pay period withholding and no withholding allowances.

What's in their place? A complicated new form and worksheet that every employer must use to figure the withholding for every employee. The IRS has just released the 2020 W-4 and percentage methods – and it's your job to understand it all.

Even worse: Time is running out! The first pay period of 2020 is weeks away. And if you don't get it right, YOU will be the one in the IRS' crosshairs – not your employees. And your employees won't be happy either if they have to write big checks to the U.S. Treasury in 2021 because they're underwithheld for next year.

Another problem: States – some of which still use the old, withholding allowance-based W-4 and all of which still use pay-period withholding – haven’t said how they’re going to handle these once-in-a-lifetime changes.

Don't get caught unprepared and out of compliance.

On Monday, December 16, discover the new compliance rules for withholding employees' taxes, child support, retirement contributions and more.

Register Now

Because the new W-4 presents employees with a bewildering array of choices, you'll also need a good communication plan to explain those options – do nothing, increase or decrease their annual income subject to withholding, or increase or decrease their pay period withholding – and to use the withholding worksheets or the IRS' withholding calculator.

And these huge changes are coming at a time when the IRS Criminal Division has increased payroll investigations by a whopping 34% last year! You can't afford to make a mistake – even an innocent one!

Use this webinar as a checklist to make sure your withholding is in compliance. You will learn:

  • What's new about the W-4 and withholding rules … and how to quickly get your company into compliance.
  • What do we do if employees don't file a 2020 W-4? Since most employees don't refile their W-4s, and the IRS says it can't make them refile, your payroll system is going to have to account for two radically different W-4 forms. But don't worry – the IRS has a solution for this!
  • Are all those old 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. (Doing that next year will be a necessity!) We'll decipher the IRS' step-by-step instructions that let you do just that.
  • 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.

Plus, get answers to your own personal withholding questions from attorney Alice Gilman, editor of Payroll Legal Alert, a true payroll expert!

If your withholding process was on "autopilot" before, you must take back control this fall. And even if you farm out payroll to a third party, the IRS will always hold YOU responsible for any mistakes – so it's your job to guarantee compliance.

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.

Join Alice and your HR peers on December 16 for this important and timely webinar!

Sincerely,

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Pat DiDomenico, Editorial Director
Payroll Legal Alert

book coversP.S. Registration Bonuses. Just for signing up, you'll receive a downloadable copy of Employee Expense Reimbursements, our Special Report that helps you minimize taxes while compensating employees correctly. Plus, you'll receive our 2020 Payroll Checklist, a handy 15-page, step-by-step compliance guide that notifies you of all the deadlines required for every pay period, month and calendar quarter of 2020.

Payroll Legal Alert websiteP.P.S. Extra Added Bonus. You'll also get a full month of access to PayrollLegalAlert.com – our exclusive, members-only website. Our helpful articles, forms, tables and charts will help you improve every aspect of your payroll operation – and your website also includes the comprehensive Payroll Compliance Handbook. So that you continue to benefit from PayrollLegalAlert.com, we'll continue your access automatically for just $89 per quarter, until you tell us "no, thanks" – your choice.

100% Money Back GuaranteeP.P.P.S. We promise you'll be satisfied. If The New W-4: How to Comply with Radical Withholding Changes fails to meet your needs in any way, we will refund 100% of your tuition – every penny you paid – but your course materials, registration bonuses and website access will be yours to keep. No hassles, no questions asked.

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About Your Speaker:

Alice Gilman

Alice Gilman

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.

 


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December

16

  • Monday, December 16th
  • 1 - 2:15 p.m. ET
  • 10 - 11:15 a.m. PT

Since this is a webinar, you and your entire staff can attend in the comfort of your office or conference room for one low price! You may include as many people as you wish while listening on a single phone line or computer. Contact us for multi-site discounts.