2020 W-4 Changes

2020 W-4 Changes

The 2020 W-4 form will look profoundly different from the ones you may have completed in the past. The IRS has been working on rolling out a new W-4 form for this year, one that eliminates withholding allowances. Eliminating allowances aligns with the suspension of personal exemptions, which was one of the major changes stemming from the 2017 Tax Cuts and Jobs Act.

Starting in 2020, workers completing a W-4 will need to use the updated form. This could be for a new a job, a current life changing event, such as getting married or having a baby, or just adjusting your withholding amount.  You are not required to complete a new W-4, assuming you already have a W-4 on file with your current employer.

Want more information? Click on the link below to look over some frequently asked questions.

https://www.irs.gov/newsroom/faqs-on-the-2020-form-w-4