Form W-4 for 2020
The IRS has issued a second version of the draft of Form W-4, Employee’s Withholding Certificate, for the 2020 tax year. The form contains significant changes from the current format of the form.
Practitioners should be ready to address these withholding changes with clients when they prepare 2019 tax returns. The final version of the 2020 form is expected to be issued in late 2019.
We will be discussing the new withholding rules and related strategies as part of our upcoming Individual Tax Year-End Workshops.