The W4 is Changing in 2020 the IRS will publish the 2020 W4 late in 2019. The changes are significant and might be confusingto your employees. It is important to note that employers shouldnot give advice, or instruction on how to fill out tax forms. If employees have questions about how to fillout a W4, or how their.
Choices will affect their taxes, Employers Council strongly advisesyou to direct them to a personal tax advisor. Having said that, there are a few things employersshould know.. • The IRS states that the form has beenredesigned to be less. Complicated, more transparent, and to align with recent tax law changes. • The form itself will look a little different;due to. Changes in tax law, there are no longer any allowances. • Employees hired before 2020 who alreadyhave a W4 are not required to fill out a new form unless.
They. Want to make changes to theirtax withholding. • In 2020, all new employees are requiredto use the new form., Any other form will be invalid. Employees who do not submit a W4, or who donot use the 2020 form, must be treated as a single filer with no other adjustments. • You may ask all employees to completea new, W4 form, but you cannot require it. • Employers will want to start working withtheir payroll providers, to see if there have been any updates on how to enter the informationfrom the form., The IRS will publish additional guidance onthe payroll calculations, needed based on the data fields on the new and old forms. If you want an idea of what the new form willlook like, there is a draft on the IRS website, along with an IRS FAQ page., Finally, while it is, not a good idea to giveyour employees advice on completing the form, you can direct them to the IRS withholdingestimator. .