Form W-4 for 2019: Best Practices and Compliance Requirements
Wednesday, 16 January 2019 11:30 AM PST, 02:30 PM EST
Training Duration = 90 min Sponsored by Online Compliance Panel
This webinar will discuss the function and requirements of Form W-4 and how the information it provides is critical to the payroll process as well as how to avoid problems and identify and correct problems such as invalid or improperly filled out forms and errors in processing.
It will also discuss the proper handling of special situations and requirements such as exemption from withholding and nonresident alien W-4 Forms.
Form W-4 has just seven lines but it is a fundamental part of the payroll process. In addition to information concerning the amount to withhold for income tax, the W-4 provides the employer with documentation of due diligence in soliciting employee name, Social Security Number, and address information. It is critical for penalty mitigation in the event the information is incorrect.
While the employer is not responsible for assuring correctness of the employee's claims, the employer is responsible for due diligence with regard to invalid forms and withholding according to the employee instructions provided by the form. Improper handling of the information can create problems in payroll compliance and employee morale as well as costly expenditures for error corrections and non compliance.\
Why Should You Attend:
While Form W-4 has only seven information lines, the information contained on the Form is critical to the payroll process. Failures at the employer end can lead to compliance and employee morale issues with regard to amounts withheld, timely processing, and incorrect information returns.
Employers may be held liable or penalized for incorrect withholding where the employer failed to solicit or timely process the forms or fails to withhold according the information provided on the forms.
Patrick A. Haggerty is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice. He began teaching accounting at the college level in 1988. He is licensed as an Enrolled Agent by the U. S. Treasury to represent tax payers at all administrative levels of the IRS and is a Certified Management Accountant.
He has written numerous articles and a monthly question and answer column for payroll publications. In addition, he regularly develops and presents webinars and presentations on a variety of topics including payroll tax issues, FLSA compliance, and information return reporting.