Form W-4 and Other Payroll Updates

4.6 (2937)

Jason Dinesen, EA

Dinesen Tax & Accounting, P.C.

Friday, February 19, 2021 | 01:30 PM EST

  • AFSP
  • CPA
  • CVA
  • EA
  • Tax Pros
  • SHRM
  • CTEC
  • CFE

1 CPE | 1 CE

FREE

Subject Area

Taxes

Webinar Qualifies For

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

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax Update for Oregon Tax Preparers

1 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ )

1 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273)

1 CE credit of Federal Tax for Maryland Tax Preparers

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

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Additional Dates

Mar 05, 2021 | 10:00 AM EST Register
Mar 15, 2021 | 03:00 PM EST Register

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?

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

Testimonial

4.6

(2937)
67%
27%
5%
1%
0%

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.

DH

I enjoy listening to Jason webinars, they are quite informative. I look forward to Pt 2. Learned a lot and reaffirmed a lot. He fields questions well and like his delivery style

BC

Jason is a fantastic presenter. His enthusiasm comes through the webinar and he is extremely knowledgeable. These elements make his presentations top notch.

JC

Interesting webinar! The information presented was very educational. I did learn something that could help me do my job better.

AM

The webinar was very instructive and insightful. Payroll Tax representation is an area that I have been active & as such, I was impressed with the thoroughness with which this class addressed this often complex and challenging subject. Thank you myCPE and Jason

LK

The webinar was packed with relevant information that was not vague or lacking. The presenter was clear in his presentation of the material