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Instructor
Elizabeth Bystrom
Instructor
Elizabeth Bystrom, CPA possesses the unique talent of explaining the Internal Revenue Code to people in such a way that they actually understand what she is saying.
Licensed in the State of Minnesota as a CPA, Elizabeth has been in public practice for over twenty years. She spent the first ten years of her career working in accounting, business and individual tax departments at a mid-size regional accounting firm just north of Minneapolis, Minnesota before leaving to pursue her own dream of entrepreneurship.
In 2010, she opened Elizabeth Bystrom CPA, Ltd., a boutique tax and accounting firm located in her hometown, White Bear Lake, Minnesota.
Her natural approachability combined with her direct and honest style have served to produce a successful practice that serves her clients by unraveling the mysterious world of taxes one tax question at a time.
In recent years, Elizabeth created Expansion Consulting Service LLC as a way to spread the wealth of knowledge she has gained over the course of her career. As a Subject Matter Expert for payroll CPE classes, Elizabeth creates and shares original content and relevant real-life examples, and offers insight into payroll related topics that impact small business and individual taxpayers alike.
With the roll out of a new Form W-4 in late 2019, the IRS made significant changes to employers’ withholding and payroll reporting requirements. In addition to the myriad of changes brought about by COVID-19 legislation, carried out through the payroll function, the IRS fundamentally revamped Form W-4 for employee reporting, doing away with the concept of allowances and requiring changes to payroll administration and employee communications.
Now more than ever, employers need to know that the W-4 they are working with is working to withhold income taxes correctly for their employees. In addition, it is the employer’s responsibility to ensure Form W-4 is filled out correctly and accurately. Employers need to understand the nuances and requirements that come with this obligation.
This course will review the Form W-4 in all its glory, including all the changes that were made to the format and substance of the form, understanding what an employer can and cannot do, and how to actually fill out the Form W-4.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
After attending this presentation you will be able to…
The major topics covered in this class include:
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Appropriate for professionals at all organization levels, including seasoned professionals. This includes CPAs in public practice, as well as tax professionals working in industry, including those in Controller and CFO roles with limited exposure to payrol