IRS Issues 2020 Form W-4

pen on form with W-4 in bold

On December 5, the IRS issued the redesigned 2020 Form W-4 (Employee Withholding Certificate). The new form has replaced withholding allowances with a five-step process for determining employee withholding.

Time for employees to review W-4 forms

pen on form with W-4 in bold

It is time for employees to review their current Form W-4 status for preferred changes in filing status and/or number of allowances needed for tax year 2020.