New W-4 Form for 2020

With the New Year comes a new W-4 form. The W-4 or “Employee’s Withholding Certificate” has a new design to increase the accuracy of the withholding system. Allowances are no longer used in the redesign of the W-4.

• ALL NEW EMPLOYEES IN 2020 MUST USE THE NEW W-4 FORM. We will no longer be able to except previous years W-4 forms.

• Current employees do not need to fill out a new W-4 just because they are a new design. We will be able to continue to calculate withholding tax based on the most recently submitted W-4 form. However, please keep in mind that the New Year is the best time for employees to make adjustments to their tax withholding.

As soon as the IRS releases the final draft it will be available on our website under “Payroll” and forms at the bottom of the page. We will also have the forms available at our office if you want to stop by and pick some up.