Key Take Away :
This webinar will discuss the function and requirements of Form W-4 and how the information it provides is critical to the payroll process as well as how to avoid problems and identify and correct problems such as invalid or improperly filled out forms and errors in processing. It will also discuss the proper handling of special situations and requirements such as employee taxation exemption from withholding and nonresident alien W-4 Forms.
Overview :
Form W-4 has just seven lines but it is a fundamental part of the payroll process. In addition to information concerning the amount to withhold for income tax, the W-4 provides the employer with documentation of due diligence in soliciting employee name, Social Security Number, and address information. It is critical for penalty mitigation in the event the information is incorrect.
Why Should You Attend :
While Form W-4 has only seven information lines, the information contained on the Form is critical to the payroll process. Failures at the employer end can lead to compliance and employee morale issues with regard to amounts withheld, timely processing, and incorrect information returns.
Areas Covered In This Webinar :
• The legal requirement that the employer withhold income tax from employee compensation
• Form W-4 line by line including the information to be included by the employee and entries that can cause the form to be invalid, the special instructions for nonresident aliens, state withholding certificates and certificates of non-residency, and effective dates for new and revised W-4 information
• When an employee must submit a new W-4 and when an employee may submit a new W-4
• Requirements for electronic W-4 Forms
Learning Objectives :
• Understand the employer’s legal obligation to withhold tax
• Know what must or must not be included on each line of Form W-4 and how to identify invalid Forms
• Understand the importance of SSN verification and how to include it in the payroll process
• Know how to deal with special problems and situations related to Form W-4 such as non-resident alien forms, lock in letters, and invalid and questionable employee submissions
• Be aware of the penalties for non-compliance and how to mitigate or avoid the penalties by following due diligence procedures that establish reasonable cause
Who Will Benefit :
• Payroll Supervisors and Personnel
• Payroll Consultants
• Payroll Service Providers
• Public Accountants
• Internal Auditors
• Tax Compliance Officers
• Enrolled Agents
• Employee Benefits Administrators
• Officers and Managers with Payroll or Tax Compliance Oversight
• Company / Business Owners
• Managers/ Supervisors
• Public Agency Managers
• Audit and Compliance Personnel / Risk Managers
For more information, please visit : https://www.atozcompliance.com/trainings-webinar/banking-financial-services/accounting-taxation/form-w-4-best-practices-and-compliance/patrick-a-haggerty/300110?utm_source=ref&utm_medium=04Apr
Email: support@atozcompliance.com
Toll Free: +1- 844-414-1400
Tel: +1-516-900-5509
Level:
Intermediate
Speakers Profile :
Patrick A Haggerty
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. He 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.
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