October 21, 2019
Alicia, Founder & CEO
October 2019 TRUST Consulting Group Newsletter
- We help you find employees.
- Applying online is easy for potential hires with a simplified, online application process.
- Capture applicant information immediat
ely with our text-to-apply option.
- Efficient and easy-to-use onBoarding process gets new hires on the schedule faster.
- Leverage efficiency and simplicity to maximize your Work Opportunity Tax Credit.
- Add in eVerify for peace of mind.
- Find out who your new hires are through background checks.
- Proactively address retention through reviews and exit interviews.
- Other services include custom forms for individual process for your company, food handlers courses and ACA management.
- Our goal is to eliminate paper and improve efficiencies for your entire hiring process.
TRUST is your one-stop shop for hiring: from hiring to retention management, TRUST has answers for your company’s hiring needs.
W-4s are in the News
WASHINGTON – Today the Internal Revenue Service issued a draft of the 2020 Form W-4, Employee’s Withholding Allowance Certificate (PDF), that will make accurate withholding easier for employees starting next year.
The revised form implements changes made following the 2017 Tax Cuts and Jobs Act, which made major revisions affecting taxpayer withholding. The redesigned Form W-4 no longer uses the concept of withholding allowances, which was previously tied to the amount of the personal exemption. Due to changes in the law, personal exemptions are currently not a central feature of the tax code.
“The new draft Form W-4 reflects important feedback from the payroll community and others in the tax community,” said IRS Commissioner Chuck Rettig. “The primary goals of the new design are to provide simplicity, accuracy and privacy for employees while minimizing burden for employers and payroll processors.”
The IRS and Treasury collected extensive feedback over the past year while working closely with the payroll and tax community to develop a redesign that best serves taxpayers.
The IRS expects to release a near-final draft of the 2020 Form W-4 in mid-to-late July to give employers and payroll processors the tools they need to update systems before the final version of the form is released in November. To make additional improvements to this initial draft for 2020, the IRS is now accepting comments for 30 days. To facilitate review of this form, IRS is also releasing FAQs about the new design.
The IRS anticipates the related instructions for employers will be released in the next few weeks for comment as well.
The IRS reminds taxpayers that this draft Form W-4 is not for current use, but is a draft of the form to be used starting in 2020. Employees who have submitted a Form W-4 in any year before 2020 will not be required to submit a new form merely because of the redesign. Employers can continue to compute withholding based on the information from the employee’s most recently submitted Form W-4.
For 2019, taxpayers should continue using the current Form W-4 (PDF). The IRS also continues to encourage people to do a Paycheck Checkup as soon as possible to see if they are withholding the right amount of tax from their paychecks, particularly if they had too much or too little tax withheld when they filed their 2018 taxes earlier this year. People with major life changes, such as a marriage or a new child, should also check their withholding.
The IRS cannot respond individually to those who submit comments, but the agency does appreciate the feedback and will consider all comments received.
Resources: IRS, Treasury Proposed W-4 Design for 2020
eVerify helps employers hire with confidence. Our team at TRUST is trained on how to eVerify your employees for a lower ROI than it would cost your team to manage the process. The process is simple – we verify eligibility from documents used with I9s. More the 95 percent of the time, your new hire receives a ‘Congratulations and you’re on your way.’ However, if the system returns a “not authorized” message, we then work with your hiring managers to determine next steps – maybe a SSN was typed in incorrectly, for example. For more information about eVerify, please contact firstname.lastname@example.org for more information.
Manage your own Users
We would like your input on the entire onBoarding process of new hires – from identifying potential employees to our onBoarding process to future integrations with our onBoarding process. Please click here to answer our six-question survey.
Legislative Update: DCR, Native American Credits and WOTC
The designated community resident credit and the Native American credit are still in a holding pattern with little or no movement in Congress since our July update.
What You May Have Missed?