CPE Packages (Incl. Ethics) for Multiple States and Qualifications Available. Price $4/credit - CLICK HERE to view.

Form W-4 and Other Payroll Updates

4.6 (4048)

Jason Dinesen, EA, LPA

Dinesen Tax & Accounting, P.C.

Friday, January 29, 2021 | 11:30 AM EDT

  • AFSP
  • CPP
  • CPA (US)
  • CVA
  • EA
  • HRCI
  • Tax Preparer
  • SHRM
  • CTEC
  • FPC

1 Credit

FREE

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00109-19-O)

1 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273) (Approval No. 6273-CE-0083)

1 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

1 PDC credit for SHRM Certified Professionals (Approval No. 21-CVXYT)

1 CE credit of Federal Tax Update for Oregon Tax Preparers (Approval No. GEHNZ-T-00109-19-O)

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00109-19-O)

1 CE credit of Tax Planning for all CFPs (CFP Board Approved : 8061) (Approval No. 273861)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

RECOMMENDED FOR ACCOUNTANTS, PAYROLL PERSONNEL, HUMAN RESOURCES, ACCOUNTS PAYABLE PERSONNEL, TAX MANAGERS AND ATTORNEYS.

On May 31, 2019, the Internal Revenue Service (IRS) released a draft of the 2020 W-4 form and on December 5, 2019, released the final 2020 Form W-4, Employee’s Withholding Certificate that radically changes the way employee paychecks are calculated. Before changes, the Form W-4 was a critical form that all companies have to obtain from employees and has had special processing requirements. The form includes major revisions, including several new input elements for federal income tax withholding calculations, which will require significant reprogramming of payroll systems

This webinar will prepare the payroll professionals to understand the changes to the Form W-4 for 2020 and to review the recently released draft of the 2020 W-4 Form. We will also discuss the IRS specific laws around the processing of Form W-4 and how they should be handled will be discussed. Apart from that, this webinar would cover : 

  • The layout of the new Form W-4 and its requirements
  • Withholding using 2020 Forms W-4 vs withholding using pre-2020 forms
  • What to do with existing, "old" W-4s filled out by employees?
  • How to handle moving expenses?
  • Form 1099-NEC for reporting of independent contractors
  • 2020 IRS Draft Form 1099-MISC Review

This webinar will prepare your staff for this filing year, improve your employee reporting set-up and maintenance practices, and reduce your risk of complaints from the IRS.

Learning Objectives

  • Understand the new Form W-4 and proper way to process a federal W-4
  • Understand what to do with current employees who already have a W-4 on file
  • Understand how to calculate withholding now and with the new W-4
  • Understand other payroll changes, such as the treatment of moving expenses
  • Understand changes to Form 1099-MISC and Form 1099-NEC

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Testimonial

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    [no_of_record] => 4048
    [average] => 4.6060
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4.6

(4048)
67%
27%
5%
0%
0%

CE

The material was beneficial to me as a tax preparer to help my clients plan for the tax return they desire. The material was clear and the timeframe was appropriate. This was my first training through myCPE which I was well pleased. I plan to take more classes. This was an EXCELLENT training.

DM

Jason took IRS changes and easily explained them in a relevant manner. This was one of my favorite IRS changes updates ever.

TM

Great information about the w4's and how to explain it better to my clients.

MG

Very clear and concise webinar.

NH

Thank you for another great webinar! With such a new form, it's nice to have the refresher, especially in such detail.

JK

The poll questions are meaningless beyond confirming participation for CE purposes. However, I like how the instructor incorporated the poll questions into the discussion by beginning to discuss the correct answer while the poll question is still up and pending and leaving the poll question up an excessive amount of time. This style really contributes to the learning.