Efficiently Managing W-2 and W-4 Forms: Key Strategies and Latest Updates

Learn the latest updates on Form W-4 and Form W-2 wage and withholding reporting. This webinar will prepare your staff for this filing year, improve your employee reporting set-up and maintenance practices, and reduce your risk of complaints from the IRS. Experienced CGMA and businessman Miles Hutchinson will review the current law and regulations regarding the filing of Forms W-2 and will provide practical guidance in these areas that have become the subject of increasing IRS scrutiny.

Why Should You Attend:

The IRS is changing the rules in regulatory reporting once again. We will review the current Forms W-4 and W-2 and related issues to prepare you for a smooth reporting season.

Who Should Attend:

This webinar will be invaluable for Accountants, CFOs, Payroll personnel, Human Resources, Accounts Payable personnel, Tax Managers and Attorneys.

What You'll Learn:

• Review legal and regulatory changes for the reporting year.
• Summary of the impacts of the Tax Credits and Jobs Act
• Benefits/credits about to expire.
• Retirement funding – new thresholds
• Updated forms, including the new form W-4 (no longer based on exemption allowances)
• Reporting the cost of employer sponsored health coverage – which employers are affected, when employers must begin reporting, what to report, valuation methods, etc.
• How to handle expense reimbursements made to employees - reportable/taxable?
• How to efficiently execute an electronic W-4 program
• Verifying employee social security numbers online
• Applying for advance credits using Form 7200
• Electronic filing with the SSA using Business Services Online (BSO) – the requirements and benefits.
• Where to turn when you want to transmit employee copies of W-2’s electronically
• What your company can do to minimize resource consumption when complying with this regulatory reporting requirement
• What if we make a mistake? Corrections and penalties