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IRS' New W-4 Withholding Calculator and Form W-4 Released: How to Ensure that You’re Withholding the Right Amounts and Complying with the New Tax Regulations

IRS' New W-4 Withholding Calculator and Form W-4 Released: Withhold the Right Amounts and Complying with the New Tax Regulations

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IRS’ New W-4 Withholding Calculator and Form W-4 Released: How to Ensure that You’re Withholding the Right Amounts and Complying with the New Tax Regulations

Live Webinar: Friday, April 6, 2018

1:30 p.m. to 3:00 p.m. Eastern / 10:30 a.m. to 12:00 p.m. Pacific

WEBINAR SNAPSHOT: Learn how to adapt your payroll system to the IRS’s newly released Form W-4 and other new and updated payroll tax requirements for 2018 and prepare for new W-4 submittals and questions from employees.

On February 28, the IRS released an updated version of the Form W-4 to help navigate 2018 withholding under the new Tax Cuts and Jobs Act (TCJA). The IRS also provided a new Withholding Calculator designed for taxpayers to check their 2018 withholding to ensure the right amount of federal payroll tax withholding.

If an employee determines federal withholding should be adjusted, he or she may complete and submit the new Form W-4, Employee’s Withholding Allowance Certificate to his or her employer.

The IRS has noted that withholding can be a complicated issue. So, it’s important for HR and payroll professionals to have a handle on how the TCJA affects tax withholding, as well as other issues, such as the maximum amount of earnings subject to Social Security payroll tax, deduction limits for retirement and fringe benefit plans, and how changes to municipal or state taxes may affect them, including withholding state income taxes and calculating state unemployment taxes.

Join us on April 6 when Elizabeth Bystrom, CPA, will provide an in-depth review of the new Form W-4 and the updated IRS withholding tables and withholding calculator. She’ll cover how to ensure that your company is withholding the correct amount of income and payroll tax under federal law and update you on the latest tax changes from the federal government. She’ll also discuss a variety of payroll topics that affect all employers, so you’re well prepared to address changes necessary for your own payroll systems.

You’ll learn:

  • Form W-4 updates for 2018 and what every employer needs to know about the IRS’ 2018 withholding tables and its updated withholding calculator
  • The types of questions employees may ask you about the new Form W-4 and the IRS’ updated withholding calculator—and how to answer them
  • How to review and stay on top of other payroll tax changes for 2018
  • Necessary changes to make to your payroll system to comply with the TCJA
  • How to inform employees affected by changes to withholding
  • How to prepare for changes that will affect your bottom line
  • How to determine what state taxes may apply and whether there are changes in those rates as well
  • And much more!

About Your Presenter:

Elizabeth Bystrom, CPAElizabeth Bystrom, CPA 
Elizabeth Bystrom CPA, Ltd.

Elizabeth Bystrom CPA of Elizabeth Bystrom CPA, Ltd., located in Stillwater, Minnesota, is licensed as a CPA in the State of Minnesota, has spent 17 years explaining the Internal Revenue Code to non-tax people in such a way that they actually understand what she is saying. In 2010, her entrepreneurial voice finally grew too loud to ignore and she made the leap to small business owner. She went to work building from the ground up a firm that specializes in small business and individual tax consulting. Her belief is that the right combination of good communication, good information and good advice is the foundation for good decisions. Today, her firm offers more than just the traditional tax preparation services, offering growth services such as tax planning, business coaching and QuickBooks training.

Ms. Bystrom leverages her professional experience and the latest technology to maintain a work/life balance that suits both her clients and family alike. Her experiences as a spokesperson for the MN State Society of CPA’s, as well as her side hustle as a snow board instructor add a richness to her unique brand. Her natural approachability, combined with her open and honest style has allowed her to build a practice unlike any other. Her collaborative process in dealing with her clients provides them with the opportunity to be tax-aware and make smarter decisions in all areas of daily life.

Have a specific question related to the topic of this audio conference? Post it here and get an answer during the event, time permitting, or in a follow-up e-mail from the audio conference presenter. This is only available to audio conference registrants.

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