IRS Overhauls Form W-4 for 2020 Employee Withholding
December 11, 2019
The Internal Revenue Service (IRS) has released the final version of the 2020 Form W-4, retitled Employee's Withholding Certificate, with major revisions designed to make accurate income-tax withholding easier for employees starting next calendar year. All new employees hired as of January 1, 2020, must complete the new form. Current employees are not required to complete a new form, but can choose to adjust their withholding based on the new form. Any adjustments made after January 1, 2020, must be made using the new form. Employers can still compute withholding based on information from employees' most recently submitted Form W-4 if employees choose not to adjust their withholding using the revised form.