New Federal Form W-4 to Take Effect 1/1/2020

The new W-4 will ask employees for specific amounts of income and deductions, and withholding allowances will no longer be used.

All 2020 new hires must complete the new W-4. Unless changes are required, employees who have submitted a W-4 anytime before 2020 are not required to submit the new form. Employers will compute withholding based on information from the employee’s most recently submitted W-4.

We will now need to collect a state withholding form along with the Federal W-4 in most states. Previously, many state withholding forms did not need to be collected because the Federal W-4 and State W-4 shared the same fields.

You can download the new Federal W-4 here and download the state forms from the links below. We also updated our digital platform to include custom forms for every state’s withholding form.

For additional details about the changes, please refer to the IRS FAQs and guidelines here.

 
 Additional links will be provided as they become available.

This information in this communication is general in nature, and is not intended, nor should it be construed, as legal, accounting, tax or other professional advice rendered by GreenSlate, LLC. The reader should contact his or her attorney, CPA, or tax professional prior to taking any action based upon this information.