With the changes to the tax law for 2018, employers should request employee submit a new W-4 Form early in the year. Form W-4 is a short form, but has a big impact. It's not only crucial for the accurate withholding of income tax, but also the employer's defense in mitigating and avoiding penalties.
Improper use of W-4 information can create problems for payroll, including costly expenditures for corrections and non-compliance. Join our 90-miunte program to discover:
How to compute the correct withholding from W-4 information
What should and shouldn't be included on each line of Form W-4
Keys to identifying invalid or questionable forms, and how to correct them
Handling special situations: Non-resident aliens, lock in letters & more
W-4: The Ins and Out's for Accurate Information & Withholding in 2018
Form W-4 line by line - information employees must include
Red flags: What entries can cause the form to be considered invalid
Date to know: Effective dates for new and revised W-4 information
Compliance Requirements: Keys to Avoiding Costly Penalties
Legal requirement for withholding income tax from employees
Record retention: How long employers must maintain W-4s
Electronic W-4 Forms - special requirements for employers
Submitting new W-4s: When employees must vs may submit new forms
Keys to Identifying, Correcting and Preventing Error in the Form W-4 Process
Why SSN verification is crucial, and how to include it in the payroll process
How to mitigate penalties for non-compliance with due diligence procedures
How to handling invalid forms, SSN mismatches, wrong names
What to do with IRS or Social Security Administration notices and lock in letters
Live Question & Answer Session - Get expert answers to your specific question!
About The Speaker
Pat Haggerty is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice.
He began teaching accounting at the college level in 1988. Pat is licensed as an Enrolled Agent by the U. S. Treasury to represent taxpayers at all administrative levels of the IRS and is a Certified Management Accountant.
He has written numerous articles and a monthly question and answer column for payroll publications. In addition, he regularly develops and presents webinars and presentations on a variety of topics including Payroll tax issues, FLSA compliance, information returns, and accounting.
In this 60-minute program you'll get the latest information on W-4 requirements, and best practice to ensure accuracy. Plus get crucial tips for handling special situation, how to protect again penalties, and what to do if you receive an IRS notification.