The final 2020 Form W-4, Employee’s Withholding Certificate, was released Dec. 4, and the final Publication 15-T, Federal Income Tax Withholding Methods, is to be released by Dec. 31. The revised form and instructions must be implemented starting Jan. 1, and the IRS is not to extend a grace period for complying with the new requirements. Employers will need to become familiar withholding methods that rely on dollar-amount adjustments and with methods that are compatible with forms issued before 2020.

This webinar focuses on finalized Form W-4 instructions, additional IRS guidance, and changes to withholding methods for 2020.

This webinar will cover:

• The layout of the new Form W-4
• The Form W-4’s options for adjusting withholding in 2020
• IRS guidance on employees exempt from withholding, lock-in letters, and invalid Forms W-4
• Expanded Publication 15-T instructions added to the most recent draft
• Withholding using 2020 Forms W-4 vs withholding using pre-2020 forms
• The role of withholding allowances in 2020
• Changes to percentage method and wage bracket methods of withholding
• Comparisons to current withholding methods
• State withholding issues

Educational objectives:

• Identify changes to Form W-4 and its instructions
• Explain changes to withholding methods for 2020
• Discuss how new methods remain compatible with older Forms W-4
• Calculate withholding using the 2020 Form W-4 and older forms

Who would benefit most from attending this Bloomberg Tax webinar?

Payroll practitioners, payroll managers, human resources professionals and managers, tax accountants, tax attorneys