SCHAUMBURG, IL., January 8 — Paylocity (NASDAQ: PCTY), a leading provider of cloud-based payroll and human capital management (HCM) software solutions, today announces its W-4 Readiness Kit to help its clients ensure compliance with the Internal Revenue Service’s (IRS) new W-4, Employee’s Withholding Certificate. The new W-4 form , went into effect on Jan. 1, and the company offers a suite of educational resources available within its Paylocity Education and Knowledge (PEAK) Center.
With the new year underway, it is critical that employers understand how the form has been revamped and how their employees should complete it during onboarding or when making income withholding election changes. Resulting from the 2017 Tax Cuts & Jobs Act, the new design reduces the form’s complexity and increases the transparency and accuracy of the withholding system. Paylocity’s W-4 Readiness Kit provides employers with the library of resources both payroll professionals and employees alike need to navigate these changes and ensure seamless compliance.
“At Paylocity, we understand that complying with new IRS standards like the newly enforced Form W-4 can be a massive undertaking for employers without the right direction from a trusted payroll partner,” said Corinne Tirone, Director of Government Relations at Paylocity and member of the National Payroll Reporting Consortium. “That’s why we’ve made our W-4 Readiness Kit available to our clients to help simply manage and execute the changes. Armed with Paylocity technology and our talented team, we’re confident our clients will adapt to the new protocol with ease.”
Paylocity’s W-4 Readiness Kit includes the following features:
Paylocity clients are finding the W-4 Readiness Kit helpful as they navigate the changes. Clients value the system design changes Paylocity has made to support the new 2020 W-4 changes, and believe their feedback was taken into consideration as the kit was created.
Paylocity is committed to helping its clients prepare for new federal-level legislation including the new Form W-4. When partnering with Paylocity, clients can expect to receive frequent and comprehensive guidance for complying with other upcoming laws like the Department of Labor Overtime Exemption Rule, California Assembly Bill 5 worker classification test, Federal 2020 Inflation adjustments to contribution limits and the Department of Labor Regular Rate of Pay Rule – all of which are effective this month. For more information on each of these changes, please read Paylocity’s recent blog post: 6 New Employment Laws to Ensure Compliance in 2020.