How to Complete the New IRS Form W4, 2020 and later, Made Easy

How to Complete the New IRS Form W4, 2020 and later, Made Easy in this video I'm going to show you how easy it is to fill out IRS Form w-4 coming up next, on Olli Schmidt holy Schmidt hi everyone this is Jeff Sherman from holy Schmidt comm and deductions tax hey is IRS Form w-4 confusing for you well I've got to tell you you're not, alone many people have found the complete revamp of IRS form w-4 for 20/20 thoroughly confusing and hard to understand for employment year 2020 the IRS, has changed form w-4 to something that looks a lot, more like a mini tax return that it does a one-page form that you fill out as part of an employee welcome kit but. To be honest it was probably time the IRS revamped Form w-4 because the old Form, w-4 2019 and earlier caused a lot of problems at your end either people who had under withholding in many cases and owed. The IRS money and potentially penalties as well or over withheld and basically they. Were giving the IRS a tax free loan the good news is that the trick to filling out. Form w-4 is simply finding out which of the three calculation options is best for you and that's where we're gonna spend the. Next few minutes now let's go to my computer and go right to the form there are five steps to form w-4 the first step is your, personal information here you enter your first name your last name your address your city state zip, code and of course your social security number then you choose, your filing status single or married filing separately married filing jointly or head of household by the way a head of household is. If you are unmarried but you pay for more than half the costs to support others in your, home outside of yourself these could be your children your parents a brother or sister anyone. That you have to pay for their support let's choose single let's go back here let's choose single for the calculation because. I'm going to show you what to do when you have multiple jobs and this is.

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