W-2 and W-4 Update 2020 and Best Practices

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CEU Approved | Pre Recorded

  • 90 minutes

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-4for 2020 and will provide practical guidance in these areas that have become the subject of increasing IRS scrutiny.

Join us for a quick study of the new rules by expert speaker Miles Hutchinson, where he will review the current Form W-2 and related issues to prepare you for a smooth reporting season.

Session Highlights:-

  • Review legal and regulatory changes for thereporting year

  • Summary of the impacts of the Tax Creditsand Jobs Act

  • Benefits/credits about to expire

  • Retirement funding – new thresholds

  • Updated forms, including the new 2020 form W-4 (no longer based on the 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 - report able/taxable?

  • Howto 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

  • Whereto 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

Why you should attend:-

The IRS is changing the rules in regulatory reporting once again.  The W-4 form 2020 is being revised to match the Tax Credits and Jobs Act.  The exemption allowance approach to computing with holdings 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 FormW-2 and related issues to prepare you for a smooth reporting season.

Who you should attend:-

  • Accountants

  • CFO

  • Payroll personnel

  • Human Resources

  • Accounts Payable personnel

  • Tax Managers and Attorneys

Advanced Preparation: None

Program Level: Intermediate

Prerequisites: None

Field of Study: Tax & Accounting

You may ask your Question directly to our expert during the Q&A session.

** You can buy On-Demand and view it at your convenience.

Miles  Hutchinson

Miles Hutchinson

Mr. Hutchinson is an accomplished businessman, business consultant and course leader specializing in finance, accounting and taxation. He excels at sharing these complex topics in a crystal clear manner. He is also proficient in sales & use taxation, payroll taxation, public speaking, problem solving, negotiating, time management, computer applications, technical documentation and facilitation.

As a Chartered Global Management Accountant, Miles has amassed a multi-disciplined approach to client consulting over the past 40 years. With increasing responsibilities in jobs ranging from independent financial auditor with PriceWaterhouseCoopers to Chief Financial Officer of a one billion-dollar real estate development company, Miles brings a seasoned, diverse and creative viewpoint to your situation and draws on that experience to bring you the best solution. He has facilitated customized public and onsite business consulting/training sessions and presented over 2500 presentations on a myriad of business topics. He has designed, developed, implemented and monitored complete business systems conversion and documentation projects. Miles will help you debunk the chaos and organize your thoughts and quickly gain clarity with your most difficult challenges.

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Edupliance is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.0 PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.

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This webinar has been approved for 1.0 HR (General) re-certification credit hours toward California, GPHR, HRBP, HRMP, PHR, and SPHR recertification through the HR Certification Institute. The use of this seal is not an endorsement by the HR Certification Institute of the quality of the activity. It means that this activity has met the HR Certification Institute’s criteria to be pre-approved for re-certification credit.

Edupliance is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.For more information regarding administrative policies such as complaint and refund, please contact our offices at 844- 810-1151. PLEASE NOTE: To receive credit through the NASBA for this program you MUST attend the Live program in its entirety and complete the required progress checks.
Our registration number is 138832.
Number of CPE Credits Awarded for This Course: 1.0 (Taxes - 0.5, Accounting - 0.5)

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