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IRS Releases New 2023 Forms W-4, W-4R And Publications 15 & 15-T

The importance of the Form W-4 is fundamental to the payroll department. It is the foundation for the taxation of an employee’s paycheck as well as a required IRS form. Failure to handle the form correctly and completely can open the door to serious problems not only in properly withholding from the employee’s gross wages but could extend beyond the regulations and affect payroll customer service or employee morale. It can also lead to costly expenditures of time and budget resources to correct non-compliance consequences.

Questions arise in processing the forms almost daily in a payroll department. Is it a valid form? If not, what should payroll do to correct the problem? Did the employee check the box on Line 2c? Did the employee complete Step 4? These are the types of questions that must be answered to process the form completely and correctly. And it is not just the federal form that payroll must process; many states have their own version of the form and now do not permit use of the federal form for state tax withholding. 

Topics covered include:

-Review of the Form W-4 for 2023
-Review of the employer instructions and publication 15-T
-Examples of calculating income tax withholding
-Discussion of how to handle calculating income tax withholding using prior versions of the form

 

Attendees will learn:

-How to use the new form W-4 including the various new tables
-To understand the employer instructions in publication 15-T
-Discover the various methods of calculating income tax withholding using current and prior year forms W-4.

 

Why Attend this Training-

This webinar takes a closer look at the IRS Form W-4 for 2023 and what’s in store for payroll in the new year. This includes new wording changes, the requirements for completing the form properly, handling non-resident aliens, state equivalent forms, record retention and processing the form electronically instead of on paper. We will also discuss best practices for processing more efficiently within the department.

 

Who can Benefit:

-Payroll Executives/Managers/Administrators/Professionals/Practitioners/Entry Level Personnel
-Human Resources Executives/Managers/Administrators
-Accounting Personnel
-Business Owners/Executive Officers/Operations and Departmental Managers
-Lawmakers 
-Attorneys/Legal Professionals
-Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues

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