Redesigned IRS Form W-4 for 2020 News Alert

Recently, the Internal Revenue Service announced a completely redesigned form W-4, the Employee's Withholding Allowance Certificate, for 2020.

 

The revised form implements changes made following the 2017 Tax Cuts and Jobs Act, which made major revisions affecting taxpayer withholding. The redesigned Form W-4 no longer uses the concept of withholding allowances, which was previously tied to the amount of the personal exemption. Due to changes in the law, personal exemptions are currently not a central feature of the tax code.

 

Read all about it here.

 

The IRS expects to release the new form in November 2019.