In 2017, the Tax Cuts and Jobs Act made major changes to how taxes are withheld from an employee’s paycheck. To accommodate these changes, the IRS announced they would be redesigning the withholding form.
Starting in 2020, employers will give out the redesigned W-4 to new employees. Some companies may want to consider having current employees also sign new forms. Here’s what you need to know about the new W-4: