November 2019 TAX SERVICES 2020 W-4 Tax Training

November 2019 TAX SERVICES 2020 W-4 Tax Training

November 2019 TAX SERVICES 2020 W-4 Tax Training Tax Compliance Training Updated December 10th, 2019 Please go to the Tax Training

website to download the must recent version of this PowerPoint. https:// www.minnstate.edu/system/finan ce/taxinformation/training/index. Agenda Introduce the IRS 2020 W-4 form

Review the MN Revenue W-4MN Introduce changes to ISRS PR0021UG Student Employee Set up screen Provide guidance on completing the 2020 W-4 2 2020

W-4 3 x x x

4 2020 W-4 - Step 1 x 5

2020 W-4 - Step 2 4,000 4,000 6

2020 W-4 - Step 3 Increases withholding Decreases withholding Increases

withholding 7 2020 W-4 Step 4 8

2020 W-4 Worksheets 9 2020 W-4 Worksheets 10

2020 W-4 Step 5 Minimum for Valid 2020 W-4 11 2020 EXEMPT W-4 xx

W rit Ex in e e un mp lin de t e4 r c

12 Defaults 2020 W-4 If no W-4 or invalid W-4 Filing status: Single/Married Filing Separately No other adjustments allowed

NRA employee Federal filing status: Single/Married Filing Separately NRA written under line 4(c) 13 2020 NRA W-4

W in rite un NRA lin de e4 r c

14 When a 2020 W-4 is Required

Employees hired in 2020 Employees who claimed exempt in 2019 NRA employees claiming 2020 tax treaty benefits Employees who want to adjust their withholding for 2020 IRS recommends all employees review their withholding in early 2020 using the IRS Tax

Withholding Estimator at www.irs.gov/W4App 15 MN REVENUE FORM W-4MN 16 DRAFT 2020 FORM W-4MN

Whats New? Beginning in 2020, federal Form W-4 does not use withholding allowances. Employees who complete IRS 2020 Form W-4, must complete Minnesota Form W-4MN NRAs may claim 1 allowance in Section 1A

17 18 2020 FORM W-4MN 19

2020 FORM W-4MN FILING STATUS 2020 FORM W-4MN SECTION 1 WITHHOLDING ALLOWANCES 20 3

$10 2020 FORM W-4MN LINE 1 WITHHOLDING ALLOWANCES LINE 2 EXTRA MN WITHHOLDING AMT 21 x

x 22 SECTION 2: W-4MN - EXEMPT 23

W-4MN - NRA WHAT IS AN INVALID FORM W-4MN?

24 Any unauthorized change or addition to the form Employee indicates in any way the form is false Incomplete form Both Section 1 and Section 2 completed Missing or incomplete employer information (only

for forms required to be sent to MN Revenue) 2020 RULES FOR W-4MN Your employee must provide you a completed Form W-4MN if any of the following apply: They submit a 2020 federal W-4 Claim exemption from MN income tax withholding Request additional Minnesota withholding

If the employee does not complete a Form W-4MN, withhold Minnesota tax as if the employee is single with zero withholding allowances. 25 2020 RULES FOR W-4MN

Send copies of Forms W-4MN to MN Revenue if any of the following apply: The employee claims more than 10 Minnesota withholding allowances. The employee checks box A or B under Section 2 (exempt), and you reasonably expect the wages to exceed $200 per week. You believe the employee is not entitled to the

number of allowances claimed. 26 2020 NORTH DAKOTA & MICHIGAN Minnesota Revenue form MWR Employees claiming reciprocity for Michigan must complete form MI-W4

for withholding tax The federal W-4 is used to figure North Dakota withholding tax 27 MICHIGAN MI-W4 28

CHANGES TO ISRS STUDENT PAYROLL SCREEN PR0021UG 29 CURRENT YEAR W-4 VIEW

30 NEW 2020 W-4 RECORD VIEW 31 SCROLL DOWN TO SEE PREVIOUS W-4 RECORD

32 NEW 2020 W-4 RECORD VIEW 33 NEW 2020 W-4 RECORD VIEW

34 NEW 2020 W-4 RECORD VIEW P 35

Step 2c Box 2020 W-4 WITH STEP 3 DEPENDENT 36 2020 W-4 WITH EXTRA WITHHOLDING

37 2020 W-4 EXEMPT RECORD P 38

2020 W-4 NRA WITH 8233 39 2020 W-4 NRA ERROR MESSAGE 40

COMING SOON - STUDENT INSTRUCTIONS FOR CAMPUS USE 41 SALES TAX FORUM

Campus Questions 42 Resources IRS withholding tax estimator https:// apps.irs.gov/app/tax-withholding-estimator Draft 2020 W-4

https://www.irs.gov/pub/irs-dft/fw4--dft.pdf IRS FAQs https:// www.irs.gov/newsroom/faqs-on-the-draft-202 0-form-w-4 IRS Draft Pub 15-T https://www.irs.gov/pub/irs-dft/p15t--dft.pdf 43

Resources MN Revenue W-4MN web page https:// www.revenue.state.mn.us/form-w-4mn Tax Services W-4MN web page https:// www.minnstate.edu/system/finance/taxinfor mation/studentpayroll/minnesota_w-4mn.ht ml

Tax Services Student Payroll web page https :// 44 www.minnstate.edu/system/finance/taxinfor Tax Services Contact Info Tax Services, Steve Gednalske or Ann Page

45 [email protected] 651-201-1657

[email protected] 651-201-1730 Tax Services Website

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