Form W-2 Vs. Form W-4: What’s The Difference And How To File And Avoid IRS Penalties

The IRS Forms W-2 and W-4 differ from each other based on who completes the paperwork and who fills them out. Employers withhold taxes from employees' paychecks by completing Form W-4 when an employee begins a new job. Employers file a W-2 at the end of each year to indicate how much was withheld. To determine the total amount withheld and whether employees are eligible for a tax refund, both the IRS and employees will need Form W-2s at year's end.

Participants will understand:

• W-2 vs W-4: What you need to know
• W-2 vs W-4: How to fill in the forms
• Steps for filing a W-2 or W-4
• Who Fills out These Forms?
• Why Should You File These Forms?
• When Should You Submit the Forms?
• Instructions to Fill Form W-4
• Instructions to Fill Out Form W-2
• How many allowances can an employee claim on their W-4?
• Guidelines for Small Businesses Filing W-2 and W-4 forms
• Details of how to close the 2024 year to make sure your W-2’s are correct, and 941 reconciliation happens correctly
• Discussion on what make the Form W-4 invalid
• Lock in letters from the IRS and how to handle
• Employer notification requirements and important deadlines for both Form W-4 and W-2

• Payroll Executives/Managers/Administrators/Professionals/Practitioners/Entry Level Personnel
• Human Resources Executives/Managers/Administrators
• CPA
• Accounting Personnel
• Tax Compliance Officers
• Enrolled Agents
• Tax or Benefits Compliance Oversight
• Public Agency Managers
• Risk Manager
• Audit and Compliance Personnel
• Business Owners/Executive Officers/Operations and Departmental Managers

Coder Archives is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Speaker Profile:

Dayna is currently the Director of Payroll Operations at Ann & Robert H. Lurie Children's Hospital of Chicago. Dayna has been heavily involved in the payroll field over 17 years. Starting as a payroll clerk at a small Tucson company, Dayna moved on to be a Payroll Team Leader at Honeywell Inc.

During her tenure at Honeywell she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. She also received several merit awards for Customer Service and Acquisitions and Divestitures. Dayna is no stranger to teaching she has taught at the Metro Phoenix American Payroll Association meetings and at the Arizona State Payroll Conference. Topics including Payroll Basics, Global/Cultural Awareness, Immigration Basics for the Payroll Professional, Multi-State and Local Taxation and Quality Control for Payroll, International and Canadian payroll. Dayna has her CPP (Certified Payroll Professional) through the APA. She also serves on the National American Payroll Association on the National Strategic Leadership Task Force, Government Affairs Task Force (PA Local tax subcommittee). Dayna has received a Citation of Merit for her service along with being a Gold Pin member of the APA. Besides her payroll accomplishments, Dayna is certified in HR hiring and firing practices and is a Six-Sigma Greenbelt.'