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 start on the day of purchase
Optional purchased print material ships within 7 business days
Duration
120 Days - Anytime
120-day access starts on the day 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
WORKSPAN DAILY |

The Key Changes and Effects of the New W-4 Form

If you’ve onboarded an employee in 2020 or been onboarded yourself, chances are you’ve been introduced to a new W-4 form.

Image

Since the Tax Cuts and Jobs Act eliminated personal exemptions from the federal tax code, the W-4 was updated to reflect as such. 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 2021.

“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,” Pete Isberg, head of government relations at ADP, told WorldatWork back in May. “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. They had to come up with other ways to permit people to adjust their tax withholding for other factors.”

The result is a little more work for new hires, but also more accuracy come tax return season. For married couples who both work, the process is actually a little smoother, Isberg said. Whereas in the past the W-4 would refer them to a worksheet that had multiple steps and two tables lookups, the new form has boiled that whole set of complex issues down.

Since employers have to withhold at the correct rate for the family but only know the income of that one employee, in the past they’ve relied on employees to go through the worksheet to specify an additional amount for the pay period.

“Now for the 2020 form, you’re just going to be checking a box,” Isberg said. “If they use that checkbox it’s a very easy solution, they just check the box and they’re done. Both spouses have to check the box and only one of them should fill out the rest of the form.”

The rest of the form consists of filling out other income for the family, total deductions over the standard amount and your tax credits, so Isberg emphasized it’s important that only one of the spouses should fill out the full form, or else both will receive the full value of the family’s tax credits and tax deductions in the form of reduced withholding, which would then have to be paid back in full to the IRS.

“So, it’s kind of a huge mistake,” Isberg said. “If you read the instructions it’s clear, but you do have to take the time and read the form, because it’s new.”

While existing employees at an organization will not have to fill out a new W-4 form, Isberg said those employees should still check their withholding and adjust it accordingly.

Isberg said that the new form has shifted a lot of the mathematical burden from employees to employers. This change makes sense, because most employers have automated software systems that automatically accommodate these changes. One caveat that Isberg noted, however, is that employees looking to take deductions other than the standard deductions should refer to the instructions instead of relying on the previous year’s total deductions.

“You’re supposed to put down total deduction minus the standard deduction amount,” Isberg explained. “If you put down your total deductions and not the difference between your total deductions and standard deduction amount, you’re really going to overstate your deductions and your withholding will be completely understated and you’ll owe the IRS a ton of money.”

Given the significant changes to the W-4 in both time it might require and the increased importance of getting the accurate information, Isberg recommends employers provide their new hires with the option of taking the form home to fill out instead of having them fill it out on site.

“Especially with respect to married couples that both work, there’s a certain amount of collaboration implied – you actually have to coordinate,” Isberg said. “If both spouses fill it out without coordinating, it could be a disaster in the sense that the family may end up owing a large amount. HR folks might consider changing their onboarding process and telling employees that they can take it home and bring it back.” 

About the Author 

Brett Christie Bio Image

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.