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Overview

With the Tax Cuts and Jobs Act (TCJA) signed into law in December 2017, sweeping changes to Form W-4 became the most awaited. The biggest changes, since the form debuted in 1943, are now effective for the 2020 tax year - after a year of enforcement delay caused by feedback from payroll and tax communities.
The Internal Revenue Service introduces new changes to W-4 annually, and every year, most people undermine its importance. It happens despite the significant changes that may occur in any year, affecting how you fill out a W-4. Reviewing Form W-4 every year is a great way to stay current, even if it’s not mandatory from federal authorities. 
This webinar offers a quick outline of the 2021 W-4 for both employers and employees. We will address the crucial points to fill out the W-4, and we will walk through the IRS withholding estimator. It will build a deep understanding, ensuring anyone can complete the W-4 form accurately, as per the individual situations.
 

Why You Should Attend

Why should you care about filling out a W-4 form? The form was reformed in 2020 to enhance its accuracy. While the 2021 version does not differ from the 2020 form, it’s important to stay informed and updated.
Taxpayers who fill out the 2021 form are less likely to end up with a hefty tax bill or a refund when they file tax returns in 2022 - an amount that they can invest in essentials throughout the year.
If that doesn’t make you want to review Form W-4, with the passage of the Tax Cuts & Jobs Act (TCJA) in 2017, major changes to employee withholding came to pass. They affected many taxpayers differently. Some of which are still taking place.
 

What You Will Learn

-The major differences between the old W-4 and modern form to employees wishing to make election changes
-Best way to communicate the changes to new and existing employees
-What employers need to understand and comply with for taxation
-A major resource to appropriately communicate the recent changes
-What’s so different in the new W-4 form?
-What expenses have now been eliminated
-How employees are reacting to these changes
-Why the TCJA introduced the IRS regulations
-Employee data privacy concerns about other sources of income
-What the TCJA 2017 includes and how it affects the 2021 W4
-Core changes in the W4 form and when it should be used
-How the payroll associations responded to these changes
 

Duration - 90 Mins.
You may ask your Question directly to our expert during the Q&A session.

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