Close
Learning Methods
Classroom
A traditional classroom couples on-site learning with the added value of face-to-face interaction with instructors and peers. With courses and exams scheduled worldwide, you will be sure to find a class near you.
Interaction
Highly Interactive
On-going interaction with instructor throughout the entire classroom event
Interaction with peers/professionals via face-to-face
Components (May Include)
Onsite
On-site instructor-led delivery of course modules, discussions, exercises, case studies, and application opportunities
Supplemental learning elements such as: audio/video files, tools and templates, articles and/or white papers
E-course materials available two weeks prior to the course start date; printed course materials ship directly to the event location
Duration
One + Days
Varies by course ranging from one to multiple days
Technical Needs
Specific requirements are clearly noted on the course page
Virtual Classroom
Ideal for those who appreciate live education instruction, but looking to save on travel. A virtual classroom affords you many of the same learning benefits as traditional–all from the convenience of your office.
Interaction
Highly Interactive
On-going interaction with instructor throughout the entire virtual classroom event
Interaction with peers/professionals via online environment
Components (May Include)
Live online instructor-led delivery of course modules, discussions, exercises, case studies, and application opportunities
Supplemental learning elements such as: audio/video files, tools and templates, articles and/or white papers
E-course materials available up to one week prior to the course start date. Recorded playback and supplemental materials available up to seven days after the live event.
Duration
Varies by course ranging from one to multiple sessions
Technical Needs
Adobe Flash Player
Acrobat Reader
Computer with sound capability and high-speed internet access
Phone line access
E-Learning
A self-paced, online learning experience that allows you to study any time of day. Course material is pre-recorded by an instructor and you have the flexibility to view content modules as desired.
Interaction
Independent Learning
Components (May Include)
Pre-Recorded
Pre-recorded course modules
Supplemental learning elements such as: audio/video files, online quizzes
E-course materials are available online within one business day of purchase
Optional purchased print material ships within 7 business days
Duration
120 Days - Anytime
120-day access to e-course materials available online within one business day from the date of purchase
Direct access to all components
Technical Needs
Adobe Flash Player
Acrobat Reader
Computer with sound capability and high-speed internet access
Close
Contact Sponsor
E-Reward
Online
Paul Thompson
Phone: 1 44 01614322584
Contact by Email | Website
Close
Sorry, you can't add this item to the cart.
You have reached the maximum allowed quantity for purchase in your cart or the item isn't available anymore.
Product successfully added to your cart!
Price
View your cart
Continue shopping
Please note our website will be down this Friday, November 5 from 9pm ET – 11pm ET for routine maintenance. We apologize for any inconvenience.
WORKSPAN
FUTURE LOOK |

Tax Filing in for a Makeover

Image

Many Americans were upset with their 2018 tax returns, which was the first under the Trump Administration’s Tax Cuts and Jobs Act. Much of that frustration was due to a misunderstanding of the new tax law, which is designed to allow workers to keep more of their paycheck, rather than giving the government an interest-free loan.

More change is on the horizon for employees and businesses alike, as the Internal Revenue Service is expected to continue its rollout of the tax law by releasing a new W-4 form for use in 2020. The purpose of the new form is to make withholding more accurate, with the ultimate goal being that workers neither owe, nor are owed, come April.

Since the Tax Cuts and Jobs Act eliminated personal exemptions from the federal tax code, the W-4 is being updated to reflect as such.

“The basis for those withholding allowances was personal exemptions. People would count themselves, their spouse, their dependents and count on the number of exemptions and put down the number of allowances,” said Pete Isberg, head of government relations at ADP. “They don’t exist anymore, so why would you have withholding allowances based on exemptions when the value of exemptions is zero? So that’s essentially the change. There are no more personal exemptions, it’s been translated to allowances. They had to come up with other ways to permit people to adjust their tax withholding for other factors.”

Isberg, who has viewed the W-4 draft that is expected to be released for public consumption by the end of the month, said the IRS addressed the privacy concerns many had with the draft released last summer for public comment. For instance, the draft asked for employees to disclose to their employer their spouses’ annual income, which many were uncomfortable with. However, to get the withholding correct for a family with two earners, an employer needs to know the full family income.

“They seemed to come up with a couple nice ways to do this,” Isberg explained. “One is to deal with it on a worksheet in the back and convert it to an additional amount to withhold. And additional amount to withhold per pay is not new, but that’s one way to get around this. Secondly, there seems to be a check box, which is quite easy. It just says check here if you have two earners in the family. It’s very easy for folks to do. I don’t know if that’s going to be on the final form, but what we saw was carefully done and well done.”

Isberg noted that existing employees at an organization will not have to fill out a new W-4 form but advised that those employees check their withholding and adjust it accordingly. New hires will feel the brunt of these changes, Isberg said, as it will no longer be a quick process on the first day of orientation.

“The onboarding part of filling out paperwork is going to grind to a halt where you might actually need to give people like an hour in a quiet room and a phone so they can call home to figure out all the different variables,” Isberg said. “Because who remembers their full-year tax deductions from last year? It’s not going to be as easy as it used to be, and it might be time consuming.”

Aside from the adjustments to the onboarding process, Isberg said that employers will have an interesting year ahead once the W-4 changes are released, as it could drastically change how states go about their tax returns. Isberg noted that most states that have an income tax are tied to the federal tax code, so the withholding allowances from federal W-4 often apply for state tax purposes as well.

How states respond could leave employers being faced with maintaining dual systems for taxes.

“We may see some significant announcements from the states regarding the federal withholding allowances and some states might elect to create their own W-4 form with withholding allowances if they want to keep them,” Isberg said. “And it may depend on how they are tied to the federal tax code. Or they may significantly revise their whole withholding regime. But that’s going to be late 2019 and effective in 2020, so are employers going to have time respond and to reprogram their systems if a state comes out in November/December with an entirely new withholding regime?”

The IRS has a withholding calculator for public use, which employers should encourage their employees to utilize to make sure they are withholding the correct amount.

W-4 FUTURE ROUNDUP

Paying a Lower Share

Corporate America is paying their smallest share of federal income tax revenue in nearly 60 years, writes Aimee Picchi of CBS News. Picchi discusses how the IRS tax figures are fueling a continuous debate between right and left concerning the impact of the 2017 Tax Cuts and Jobs Act.

Preparing for Tax Season

Kathryn Vercillo provides tips for how workers can prepare for the 2019 tax season in this article for SavingAdvice.com. Vercillo approaches this advice column from the standpoint of collecting a larger refund on your income tax return.

How Many Allowances?

Rocky Mengle gives readers a breakdown of what allowances are and how an employee should go about filling out their W-4 in this Yahoo Finance article. Mengle covers all angles and answers pertinent questions concern tax filing in a comprehensive and worthwhile read.

About the Author

Brett Christie is a staff writer at WorldatWork.


About WorldatWork

WorldatWork is a professional nonprofit association that sets the agenda and standard of excellence in the field of Total Rewards. Our membership, signature certifications, data, content, and conferences are designed to advance our members’ leadership, and to help them influence great outcomes for their own organizations.

About Membership

Membership provides access to practical resources, research, emerging trends, a professional network, and career-building education and certification. Learn more and join today.