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Form W4: Impact on Payroll

Clear up questions on the effects that form W-4 has on payroll.

Many payroll departments have questions about administering the W-4 process. It is often difficult to determine when to request a new Form W-4 or how to compute the correct withholding based on the W-4 information. When employing entities merge it is often difficult to know whether to ask for new W-4 forms or whether to use existing forms. Nonresident aliens may be restricted in what to claim on Form W-4 and payroll departments should be in a position to explain the differences for these employees. Payroll departments who also administer pension payments may not have obtained the correct version of the W-4 form. All of these issues ultimately may impact the payroll department at year-end when employees file their tax returns and find that their taxes are substantially over or under withheld. Additional time is then needed to address these issues with the employee population. This topic helps the persons collecting and administering the W-4 Forms to withhold the correct amount of income tax, whether they are working with U.S. resident employees, nonresident alien employees or employees which have come to them via a merger. The content will explain when to ask for Form W-4, how to answer employees' questions about completing the form and when to question W-4 forms which do not appear to be completed correctly. The topic will also discuss electronic collection of W-4 information and explain the use of the various W-4 forms, for example Form W-4P. This information will help payroll departments better understand and administer the W-4 process to avoid year-end issues with employees and to respond to inquiries from the IRS regarding withholding matters based on Form W-4.

Learning Objectives

  • You will be able to identify the valid information that must be included on a W-4 form.
  • You will be able to identify the various W-4 forms.
  • You will be able to differentiate exemption types.
  • You will be able to basic fundamentals of the W-4 form.

Runtime: 87 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Introduction

  • What Is Form W-4?
  • When Does a Payroll Department Request a Form W-4?
  • Does Form W-4 Expire?

Completing Form W-4

  • Basics to Complete Form W-4
  • Exemption From Withholding
  • Electronic Form W-4

Computing Income Tax Withholding

  • Tax Tables
  • Special Circumstances
  • Supplemental Wages

Other Form W-4 Considerations

  • Nonresident Alien Withholding
  • Withholding From Pensions
  • Spanish Forms
  • Successor Employers

2018 Form W-4 Complete With Changes as Reflected in the Recent Legislation

  • Exemptions
  • Standard Deductions
  • Tax Rates
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

OnDemand Webinar

This course was last revised on January 31, 2019.

Call 1-866-352-9540 for further credit information.

  • CPE/NASBA - QAS Self Study 2.0 including Management Advisory Services 2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study 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 web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Management Advisory Services for 2.0 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Mark Schwartz

Mark Schwartz

MS Payroll

  • Employment tax specialist and has more than 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the state of California
  • Has managed an audit caseload of 20 ongoing audits, from small home based businesses to large multinational corporations
  • An expert at defining regulatory and statutory requirements from local, state and federal government agencies; and helping the average businessperson understand what that means to their business
  • Has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits
  • Provides consulting services encompassing payroll processing and payroll tax issues; these include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, and benefits
  • Has represented both clients and the state in front of the State Appeals Board; he understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting your employees
  • Prides himself on his outstanding customer service skills, listens attentively to his clientele, helping them bridge the gap between the small business world and government bureaucracy and eagerly assists with client’s needs, and feels that educating clients toward faster, accurate and more complete payroll processes provides the most value
  • Participating member of the American Payroll Association; Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials
  • Currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association
  • M.B.A. and B.A. degrees in finance, Santa Clara University
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

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Additional benefits include:

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Product ID: 405577
Published 2018, 2019
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