New W-4 Form for 2020

IRS has revised the W-4 for employees to use beginning 2020

With the Tax Cuts and Jobs Act of 2018, the IRS has revised the W-4 form for NEW Benefits Newsemployees that will start working with your organization on or after January 1, 2020.

 

The new form is easy for employees to use and understand. There are five steps.

  • Step 1. Enter personal information.
  • Step 2. Indicate multiple jobs or if spouse works.
  • Step 3. Claim dependents.
  • Step 4. Make other adjustments including for: Investment and retirement income.    Deductions other than the standard deduction. Any extra tax withholding per pay period.
  • Step 5. Sign the form.

 

Most employees will complete ONLY Steps One and Five. Take a look at the FAQs the IRS has available.

For additional information click here: SHRM Article.

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