New W-4 issued by IRS
Monday, January 13, 2020
A new Form W-4 has been issued by the IRS to reduce the complexity, and increase the transparency and accuracy of federal tax withholding.
Employees are not required to submit a 2020 Form W-4 unless one of the following situations applies:
- The employee is a new hire or rehire and has a start date on or after Jan. 1, 2020.
- The employee claimed EXEMPT in 2019 and their withholding exemption expires on Feb. 5, 2020.
Note: Employees are encouraged to update their Form W-4 to ensure their withholding elections are accurate and to account for any changes that may affect their personal situation.
For more information, consult this list of frequently asked questions.