2023 Best Practices: W2 and W4 Update
Author: Miles Hutchinson
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Law Updates for EAs and OTRPs
2 hours Federal Tax Updates for CTEC |
Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2026 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
Learn the latest updates on Form W-4 and Form W-2 wage and withholding reporting. This course 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.
Experienced CGMA and businessman Miles Hutchinson will review the current law and regulations regarding the filing of Forms W-2 and W-4 and will provide practical guidance in these areas that have become the subject of increasing IRS scrutiny.
Publication Date: December 2023
Designed For
Accountants, CFOs, Payroll personnel, Human Resources, Accounts Payable personnel, Tax Managers and Attorneys.
Topics Covered
- Law Update — Impacts
- Form Update
- W-4 Name/# Verification Methods
- Penalty Update
- Electronic Distribution of W-2s
- Year-End Reconciliation
- Effecting Corrections to W-2s
- Best Practices
Learning Objectives
- Identify the latest updates on Form W-2 and Form W-2 wage and withholding reporting
- Recognize how to 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
- Identify a 2023 regulatory change
- Identify how many states have a minimum wage above the federal minimum wage rate of $7.25/hour as of 2022
- Identify the 2023 standard deduction for heads of households
- Identify the TIN type that signifies a foreign entity if it begins with 98
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
Basic Updating of Forms W2 and W4
Advance Preparation
None
