Payroll Tax Update and Filing of W-2 and W-4 for 2020: Preparing for January 2021 Deadline

Why Should You Attend:

The IRS is changing the rules in regulatory reporting once again. The W-4 for 2020 is being revised to match the Tax Credits and Jobs Act. The exemption allowance approach to computing withholdings is disappearing. We will examine the new Form W-4 for 2020 and answer your questions about the impact and how to implement the new form. In addition, we will review the current Form W-2 and related issues to prepare you for a smooth reporting season.

Attend this webinar to Learn the latest updates on Form W-4 (major change planned for 2019) 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 preparation of new Forms W-4 for 2019 and will provide practical guidance in these areas that have become the subject of increasing IRS scrutiny.

Areas Covered in the Webinar:

• 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 2020 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 expense reimbursements made to employees - reportable/taxable?
• How to efficiently execute an electronic W-4 program
• Verifying employee social security numbers online
• 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

Who Will Benefit:

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

Miles Hutchinson
President, Sales Tax Advisors Inc

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. Mr. Hutchinson is a professional speaker and consultant who has presented over 2,000 seminars and training sessions on myriad business and financial topics, like financial analysis and modeling, accounting, strategic planning, and compliance with the Sarbanes-Oxley Act. He is recognized as an expert in payroll, and sales and use tax as well as financial modeling and analysis, business strategy and communications.

He is the author of several useful accounting and tax tools. His clients include Abbott Labs, Bank of America, Boston Scientific, Citicorp, Corning, the FBI, the FDA, the Federal Reserve, GE, Pfizer, Siemens, US Marine Corps, and the US Army.

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