With the enactment of the federal Tax Cuts and Jobs Act in December 2017, several features of the federal income tax code were changed or eliminated. To match the federal withholding system more accurately, the IRS issued major revisions to the Employee Withholding Allowance Certificate (2020 Form W-4).
This session will examine how the 2020 Form W-4 is different and what you must do for new employees hired on or after January 1, 2020. We’ll review procedures for existing employees who have an old Form W-4 and analyze some of the tax withholding changes that will result. We’ll demonstrate a few common withholding scenarios, share best practices for complying with the new mandate and review employer FAQs surrounding the use of the new Form W-4.
HRCI and SHRM credit available!
Speakers: Paycor Compliance Team - Arlene Baker and James Schwantes
Arlene Baker is a Senior Compliance Analyst with more than 40 years of payroll and tax experience. She’s a member of the National Payroll Reporting Consortium focusing on IRS compliance, the APA and is an active member of the American Payroll Association hotline.
James Schwantes is a Compliance Analyst with a legal and tax background. Prior to working at Paycor, he served as an attorney in Cincinnati focusing on antitrust, ERISA and business litigation.