News & Analysis as of

W-4

Bowditch & Dewey

Update Your 2024 Tax Withholding to Avoid Year-End Surprises

Bowditch & Dewey on

Now that the 2023 tax filing season is underway, many taxpayers are having an unpleasant surprise when they file their tax return this year and find out they are getting a much smaller refund than they were expecting, or...more

Littler

Court Holds Backup Withholding Required by Law Does Not Violate a Settlement Agreement

Littler on

In Escano v. Innovative Financial Partners, LLC, a magistrate judge held that the defendants’ decision to withhold funds from a payment required under a settlement agreement when the plaintiff refused to provide a Form W-9...more

Morgan Lewis - ML Benefits

Implementing the New Forms W-4P and W-4R: One Year Later

Effective as of January 1, 2023, payors of qualified plan distributions have been required to use a redesigned IRS Form W-4P for payee withholding elections on periodic payments and a new Form W-4R for nonperiodic payments...more

Morgan Lewis - ML Benefits

Reminder: Form W-4P Withholding Certificates on Periodic Pension or Annuity Payments Must Be Valid and Up to Date

Recipients of periodic or annuity retirement plan distributions provide a Form W-4P to payors of pension or annuity payments for the correct amount of federal income tax to be withheld from these distributions. (While...more

Bowditch & Dewey

Tax Tips for New College Graduates

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As new college graduates cross the stage to receive their diplomas, many will also be heading to their first full-time jobs. There are some tax tips new graduates can implement early on that will help with savings in the long...more

McDermott Will & Emery

Reminder: New Tax Forms for Retirement Plan Payment Withholding Effective January 1, 2023

McDermott Will & Emery on

Retirement plan sponsors need to utilize updated Form W-4P (for periodic pension and annuity payments) and new Form W-4R (for nonperiodic payments and eligible rollover distributions) for income tax withholding elections...more

Bowditch & Dewey

Update Your Tax Withholdings to Avoid Year-End Surprises

Bowditch & Dewey on

During the 2022 tax filing season, many taxpayers had an unpleasant surprise when they filed their tax return and found out they were getting a much smaller refund than they were expecting, or worse, had a balance due....more

Groom Law Group, Chartered

Update on Pending Withholding Forms W-4P and W-4R (UPDATED)

Update (January 4, 2022) The updated 2022 Forms W-4P and W-4R have been released...more

Groom Law Group, Chartered

Update on Pending Withholding Forms W-4P and W-4R

Earlier this year, the IRS released draft versions of 2022 Forms W-4P and W-4R for pension and IRA withholding on payments, to be used beginning on or after January 1, 2022. In short, the draft forms split the existing W-4P...more

Jackson Lewis P.C.

2021 Plan Amendment Deadlines And Other Looming Fourth Quarter Considerations

Jackson Lewis P.C. on

As the year draws to a close, it is helpful for employers to pause to evaluate employee benefit plan amendment deadlines and other crucial fourth quarter considerations, including:...more

Kilpatrick

Action Steps for Employers that Received Exempt W-4s in 2020

Kilpatrick on

Employees falling on hard times during the 2020 pandemic may in some instances have sought to increase their net take home pay by filing a revised Form W-4 to claim more allowances than they were entitled to or claiming a...more

Littler

SCOTUS Rules States May Use Information “Contained” in Form I-9 to Prosecute Identity Theft

Littler on

On March 3, 2020, the Supreme Court of the United States (SCOTUS), in a 5-4 ruling, agreed with the State of Kansas that it could use the state’s identity theft statutes to prosecute three separate criminal cases where the...more

Littler

Littler Lightbulb: Pressing Immigration Issues for Employers

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Littler’s Global Mobility and Immigration practice group assists employers as they face unprecedented day-to-day business challenges, including an unpredictable economy, stepped-up government enforcement, and myriad...more

Burr & Forman

IRS Opens 2020 With New W-4 For Employers

Burr & Forman on

With the implementation of the Tax Cuts and Jobs Act of 2017, it was only a matter of time before the IRS issued a new W-4 Employee Withholding Certificate form.  Employers use the W-4 to determine how much pay to withhold...more

Amundsen Davis LLC

What the W-4 Is That? Answers To Your Questions About The New W-4

Amundsen Davis LLC on

Following the 2017 Tax Cuts and Jobs Act, which made major changes affecting taxpayer withholding, the IRS announced it would be redesigning Form W-4. The new W-4 has officially been released, creating confusion and questions...more

Haynsworth Sinkler Boyd, P.A.

Are You Using The New Form W-4?

Effective January 1, 2020, employers should be using the revised Form W-4 in the new hire process. Employers may ask current employees to complete a new Form W-4 but the employer must advise the current employees that...more

Jackson Lewis P.C.

Redesigned 2020 IRS Form W-4

Jackson Lewis P.C. on

The IRS has substantially redesigned the Form W-4 to be used beginning in 2020. New employees first paid wages during 2020 must use the new redesigned Form W-4. In addition, employees who worked for an employer before...more

Davis Wright Tremaine LLP

IRS Issues Revised Form W-4 for 2020

The Internal Revenue Service (IRS) has released a revised Form W-4 for 2020. The IRS stated that the revised form is intended to simplify withholding and help employees make more accurate withholding decisions in the wake of...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Finalizes Redesigned Form W-4

On December 5, 2019, the Internal Revenue Service (IRS) issued the final redesigned 2020 Form W-4, Employee’s Withholding Certificate, to incorporate changes pursuant to the Tax Cuts and Jobs Act of 2017. The new form is...more

Littler

Deck the Halls and Pack the Malls: 10 Issues for Seasonal Employee Hiring

Littler on

The holiday season is nearly upon us, and the shopping frenzy is about to commence. This annual phenomenon brings the hurried engagement of seasonal employees, with thousands of these retail elves helping manage the increased...more

Dentons

HR Quick Takes: W4 Changes

Dentons on

Q: When an employee wants to change their tax information, for example move from 2 to 1 exemption or single to married, can they make that change to their W4 filing on our employee self-service system? A: Typically, under...more

McDermott Will & Emery

Weekly IRS Roundup May 27 – May 31, 2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 27 – May 31, 2019. May 28, 2019: The IRS released Announcement 2019-05 listing recent...more

Jackson Lewis P.C.

IRS Releases Proposed Form W-4 Redesign

Jackson Lewis P.C. on

On Friday, May 31, 2019, the IRS released a new proposed design of the IRS Form W-4 to be used starting in 2020. The goal is to make it easier for employees to calculate accurate withholdings under the 2017 Tax Cuts and Jobs...more

Jackson Lewis P.C.

A Quick Form W-4 Reminder For Employers: May 10, 2019 Deadline For Updates

Jackson Lewis P.C. on

The Tax Cuts and Jobs Act (the “Tax Act”) significantly changed the federal income tax rules. Several of these changes impact income tax withholding, including changes to the tax rates and brackets, increasing the standard...more

Littler

Dear Littler: Can Employees be Exempt from Income Tax?

Littler on

Dear Littler: My company recently hired a new employee who is giving our human resources department some pushback on submitting his W-4. The HR manager says the employee mentioned something about not being subject to income...more

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