Overview

The IRS has released a new version of the Form W-4 for determining employee tax withholdings. This new form is required for use by any new hire after January 1, 2020, and for any current employee with an old W-4 on file but who wants to update their withholding in 2020 or beyond. Unless existing employees want to change their withholding, they can continue to keep their old-version Form W-4 on file. This means there are two methods for determining employee withholding.

We will also discuss the IRS specific laws around the processing of Form W-4 and how they should be handled will be discussed.