Form W-4 and Publication 15-T: Overcome Implementation Hurdles
The final 2020 Form W-4, Employee’s Withholding Certificate, was released Dec. 4, and the final Publication 15-T, Federal Income Tax Withholding Methods, is to be released by Dec. 31. The revised form and instructions must be implemented starting Jan. 1, and the IRS is not to extend a grace period for complying with the new requirements. Employers will need to become familiar withholding methods that rely on dollar-amount adjustments and with methods that are compatible with forms issued before 2020.
This webinar focuses on finalized Form W-4 instructions, additional IRS guidance, and changes to withholding methods for 2020.
This webinar will cover:
- The layout of the new Form W-4
- The Form W-4’s options for adjusting withholding in 2020
- IRS guidance on employees exempt from withholding, lock-in letters, and invalid Forms W-4
- Expanded Publication 15-T instructions added to the most recent draft
- Withholding using 2020 Forms W-4 vs withholding using pre-2020 forms
- The role of withholding allowances in 2020
- Changes to percentage method and wage bracket methods of withholding
- Comparisons to current withholding methods
- State withholding issues
- Identify changes to Form W-4 and its instructions
- Explain changes to withholding methods for 2020
- Discuss how new methods remain compatible with older Forms W-4
- Calculate withholding using the 2020 Form W-4 and older forms
Who would benefit most from attending this Bloomberg Tax webinar?
Payroll practitioners, payroll managers, human resources professionals and managers, tax accountants, tax attorneys
- Bloomberg Tax & Accounting
Jazlyn Williams, editor/writer, primarily covers unemployment insurance and workers’ compensation developments for Bloomberg Tax’s Payroll publications. She completed her B.A. in English at Duke University with a concentration in creative writing and a minor in Latino Studies.