New IRS Released Form W-4 for 2021

Date: March 19, 2021
Time: 01:00 PM ET
Duration: 60 Minutes
Speaker: Dayna Reum
CEU Credits : 1.0

$0.00

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Description

The Employee Withholding Certificate, commonly known as the Form W-4, is an IRS form used by an employer to withhold the correct federal income tax from an employee’s pay.

IRS Publication 15-T, Federal Income Tax Withholding Methods, provides tax tables and worksheets to accommodate tax computations for both prior to 2020 W-4 Forms and 2020 and later W-4 Forms

This webinar will prepare the payroll professional to understand the changes to the form W-4 for 2021 and to review the recently released. Before these changes the Form W-4 was a critical form that all companies have to obtain from employees, that drives how federal income withholding tax is calculated.

Session highlights:

  • Understanding the proper way to process a federal W-4
  • What should be the proper process for an invalid W-4 today and how it will look in 2021?
  • Proper processing and maintenance of a IRS lock in letter
  • Electronic W-4 requirements and what the new form means for employers with electronic W-4 systems
  • 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 make the Form W-4 invalid
  • Review of the tax reform legislation and how it affected the Form W-4
  • Best Practices on how employers can better communicate W-4 changes to employees
  • COVID tax Credits and requirements

Benefits of attending session:

A review of publication 15-T and the steps to completed federal tax withholding calculations will be reviewed. All IRS specific laws around processing of the Form W-4 today and tomorrow will be discussed.  Review COVID related updates that payroll professionals need to know such as how some credits have been extended and why.

Who should attend ?

  • Human Resources Professionals
  • Small Business Owners
  • Payroll Professionals
  • Attorneys
  • Accounting Professionals
  • Consultants

Speaker

Dayna Reum

Dayna Reum ,CPP, FPC is currently the Director of Payroll Operations at Ann & Robert H. Lurie Children’s Hospital of Chicago . She has been heavily involved in the payroll field over 18+ years. Starting as a payroll clerk at a small Tucson company, She moved on to be a Payroll Team Leader at Honeywell Inc. During Dayna’s time at Honeywell she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. She also received several merit awards for Customer Service and Acquisitions and Divestitures. Dayna is no stranger to teaching she has taught at the Metro Phoenix American Payroll Association meetings and at the Arizona State Payroll Conference. Topics including Payroll Basics, Global/Cultural Awareness, Immigration Basics for the Payroll Professional, Multi-State and Local Taxation and Quality Control for Payroll, international and Canadian payroll.

Dayna has her CPP (Certified Payroll Professional) through the APA. She also serves on the National American Payroll Association on the national Strategic Leadership Task Force, Government Affairs Task Force (PA Local tax subcommittee). Dayna has received a Citation of Merit for her service along with being a Gold Pin member of the APA. Besides her payroll accomplishments Dayna is certified in HR hiring and firing practices and is a Six-Sigma Greenbelt.

Certification

This webinar has been approved for 1 HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®,SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®).

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