Dec of 2023 The Tax Cuts and Jobs Act was passed and it was one of the most significant tax changes in sometime. This webinar will prepare the payroll professional to understand the changes to Form W-4 for 2023 and to review the recently released draft on June 8th of the 2024 W-4 Form. Before changes, Form W-4 was a critical form that all companies have to obtain from employees and has had special processing requirements. A review of the IRS-specific laws around the processing of Form W-4 and how they should be handled will be discussed. 2024 has continued to bring changes that this webinar will review.

Why Should You Attend:

Form W-4 is the baseline payroll tax form that as payroll professionals we are constantly dealing with. Every day changes are occurring that affect how we handle these forms. It is critical to stay on top of current rules and regulations regarding these critical forms.

Course Objectives:

• Understanding the proper way to process a federal W-4

• How to handle a Tax Protestor

• What should be the proper process for an invalid W-4?

• Proper processing and maintenance of an IRS lock-in letter

• Understanding the requirements around Form W-4 and how an employer can be at risk

• IRS Form W-4 change requirements and how it affects you as an employer

• Employer notification requirements and important deadlines for both Form W-4

• Discussion on what makes the Form W-4 invalid

• Lock in letters from the IRS and how to handle

• What are the changes to personal exemptions from tax reform and how will impact the Form W-4

Course Outline:

• W-4 Requirements

• Electronic W-4's

• Updated Electronic W-2 Requirements

• Completing the Form W-4

• Invalid Form W-4

• Exempt W-4 Processing

• W-4P & W-4S Forms

• Other W-4 guidance

• Lock in letters

• Substitute W-4

• Non-Resident Alien W-4 Processing

• 2024 changes and updates

What You Get:

• Training Materials

• Live Q&A Session with our Expert

• Participation Certificate

• Access to Signup Community (Optional)

• Reward Points

Who Will Benefit:

• Payroll professionals

• HR Professionals

• Accounting Professionals

• Tax Professionals

• Benefits Professionals

Topic Background:

Employers and employees must stay informed about the latest changes to Form W-4, the Employee's Withholding Certificate. Form W-4 is a vital document used by employees to indicate their tax situation to their employer, ensuring that the correct federal income tax is withheld from their pay checks. Updates to this form can have significant implications for both payroll processes and individual tax liabilities.