W-2 and W-4 Update and Best Practices

Duration 90 Mins
Level Basic & Intermediate & Advanced
Webinar ID IQW21A0130

 

  • Review legal and regulatory changes for the reporting year
  • Summary of the impacts of the Tax Credits and Jobs Act
  • Benefits/credits about to expire
  • Retirement funding – new thresholds
  • Updated forms, including the new form W-4 (no longer based on exemption allowances)
  • Reporting the cost of employer sponsored health coverage – which employers are affected, when employers must begin reporting, what to report, valuation methods, etc.
  • How to handle the expense reimbursements made to employees - reportable/taxable?
  • How to efficiently execute an electronic W-4 program
  • Verifying employee social security numbers online
  • New for 2020: Sick Leave Credits and Employee Retention Credits – Learn how they affect your New Forms 941 and Worksheet 1
  • Applying for advance credits using Form 7200
  • Electronic filing with the SSA using Business Services Online (BSO) – the requirements and benefits
  • Where to turn when you want to transmit employee copies of W-2’s electronically
  • What your company can do to minimize resource consumption when complying with this regulatory reporting requirement
  • What if we make a mistake?Corrections and penalties

 

Overview of the webinar

Learn the latest updates on Form W-4 and Form W-2 wage and withholding reporting. 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. Experienced CGMA and businessman Miles Hutchinson will review the current law and regulations regarding the filing of Forms W-2 and will provide practical guidance in these areas that have become the subject of increasing IRS scrutiny.

 

Who should attend?

  • Accountants
  • CFOs
  • Payroll personnel
  • Human Resources
  • Accounts Payable personnel
  • Tax Managers 
  • Attorneys

Why should you attend?

The IRS is changing the rules in regulatory reporting once again. We will review the current Forms W-4 and W-2 and related issues to prepare you for a smooth reporting season.

Faculty - Mr.Miles Hutchinson

Miles Hutchinson is a CGMA and experienced businessman. He has been an auditor with PriceWaterhouseCoopers and the Chief Financial Officer of a $1 billion real estate development company. Miles is a highly sought after professional speaker and consultant who has presented over 1000 seminars and training sessions on a myriad of business and financial topics, such as financial analysis and modeling, accounting matters, strategic planning, and compliance with the Sarbanes-Oxley Act. His clients include Abbott Labs, Citicorp, the FBI, GE, Pfizer and the US Marine Corps.

Credits

ComplianceIQ is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for [1.5] PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.

HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org

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