New W-4 for 2020

The IRS updated the Form W-4 with significant revisions designed to make accurate income-tax withholding easier for employees in 2020. For your convenience, we have attached the new Form W-4. Additionally, to help employers navigate this change, we have compiled a list of the top five (5) changes employers should know about the new 2020 Form W-4:

  1. Current employees do not need to submit a new Form W-4 to their employers due to the redesign.
  2. All new employees hired as of January 1, 2020 must complete the new Form W-4.
  3. Current employees who would like to adjust their withholdings must use the new Form W-4. 
  4. Employees may need more time to complete the new Form W-4 than they did to complete the previous versions. Employers should allow employees to take the new Form W-4 home rather than complete it on their first day.  Employees can use the IRS Tax Withholding Estimator, a tool found on the IRS website, to help them complete the new Form W-4.
  5. Since Employers are not required to have existing employees complete the new Form W-4, Employers will need to program their payroll system to accommodate the existing withholding calculation, as well as the new method.

If you have any questions regarding the revised Form W-4, or any other HR needs, call HR Partners at 785-233-7860.

What our clients say...

McElroy's, Inc.

Dan Beal

President

McElroy's, Inc.

"When McElroy's first started in business, there were not the extensive human resources compliance requirements that there are today. HR Partners has assisted us by formalizing our policies and updating our employment records to make sure we meet these requirements. This has enabled McElroy's, Inc. to focus on what we do best and continue to provide "Service You Trust" to our clients."