The New Form W-4 Draft is Here

The IRS has issued a new draft of the 2020 Form W-4, Employee’s Withholding Allowance Certificate.

The redesigned Form W-4 no longer uses the concept of withholding allowances, which was previously tied to the amount of the personal exemption. Employees who have submitted a Form W-4 in any year before 2020 will not be required to submit a new form merely because of the redesign.

The IRS has posted a draft of the new proposed form, as well as an extensive FAQ about the redesign.

Read more from the IRS here.

The near-final draft is expected to be released in July.

This text is provided with the understanding that ECFA is not rendering legal, accounting, or other professional advice or service. Professional advice on specific issues should be sought from an accountant, lawyer, or other professional.


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