IRS Unveils Proposed New W-4 for 2020

By:
Chris Gaetano
Published Date:
Jun 3, 2019
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The IRS is proposing design changes for the Form W-4 that incorporate the changes made by the 2017 Tax Cuts and Jobs Act. Among other changes, the proposed form would no longer use 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. The IRS expects to release a near-final draft of the 2020 Form W-4 in mid-to-late July to give employers and payroll processors the tools they need to update systems before the final version of the form is released in November.

“The new draft Form W-4 reflects important feedback from the payroll community and others in the tax community,” said IRS Commissioner Chuck Rettig. “The primary goals of the new design are to provide simplicity, accuracy and privacy for employees while minimizing burden for employers and payroll processors.”

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