The new W-4 Form for 2020 is now available and looks much different than what we are used to.
You are not required to fill out a new W-4 with your current employer, but if you start a new job you will be required to use the new version.
The parts you are
required
to fill out are:
- Fill out Step 1
- Sign in Step 5
By completing only the required parts, you may find that you are significantly under withheld (owe tax) or over withheld (refund).
If you would like your taxes withheld to be sufficient for your particular tax situation, then we recommend completing Steps 2, 3 and 4 or using the IRS withholding estimator to determine an additional withholding amount. The estimator is available at
https://www.irs.gov/individuals/tax-withholding-estimator.
If you would like our help in filling out your W-4, please contact us.
