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Tax

We’re committed to relieving the tax burdens of businesses, individuals, and families. With a careful assessment of your situation, our tax professionals develop a uniquely customized strategy for your tax planning needs with the objective of minimizing your tax liability. 

TREASURY, IRS DROP NEW FORM W-4 FOR 2020

December 13, 2019

TREASURY, IRS DROP NEW FORM W-4 FOR 2020

The new version released in August contains a number of changes from previous trials after comments from tax professionals. Neither group anticipates further changes to the redesign beyond minor updates due to inflation adjustments.

The new version uses a building block approach to replace complex worksheets with more straightforward questions, making it easier for employees to calculate withholdings more accurately. Utilizing the same information as the old design, the new form uses a more personalized, step-by-step approach to cater to individual taxpayer needs.

It is important to know that employees who have submitted a Form W-4 in any year before 2020 are not required to submit a new form simply because of the redesign.

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