Employees starting their new job in the 2020 work year may notice that the new form looks different than the old one…
This new form will be using a different method for entering information. It will ultimately “require that the taxpayer enter dollar amounts, rather than simply entering the number of withholding allowances; and eliminates/replaces certain categories that were on prior forms.”
This update to the W-4 shall simplify the completion of how much federal income tax to withhold from worker paychecks. The IRS states it “replaces complicated worksheets with more straightforward questions that make accurate withholding easier for employees.”
There are currently many questions from U.S. workers circulating about how this could directly effect them, and the IRS tries to answer those on a FAQ on their government website.
