Your Opinion on the New, Proposed W-4 for 2020

The IRS just released a draft of the Form W-4 that they a proposing to use for 2020.

They came up with this after meeting with a national trade group of payroll tax processors –
the folks who prepare the vast majority of payrolls and payroll tax returns in the country.

Please open this file and look it over.   fw4–dft 2020

You can read the IRS’s FAQs about the why’s and how’s of this form here:
https://www.irs.gov/newsroom/faqs-on-the-early-release-of-the-2020-form-w-4

Let us know what you think of this.

2 thoughts on “Your Opinion on the New, Proposed W-4 for 2020

  1. TaxMama says:

    TaxMama’s Recommendation to the IRS 05/31/19:

    Dear W-4 team,

    This draft is quite confusing.
    Even after reading it three times, I still don’t understand what instructions
    are being given to the payroll department about withholding – not a clue.
    (Are they withholding one of the amounts on one of the line 4s,
    dividing that amount by payroll periods? What?)

    Many of us in the tax professional community would dearly
    love to see a line for a flat percentage of each check to be withheld.
    Line 4 e, perhaps?

    The taxpayers might be able to determine their tax bracket, if you include a table.
    Tax professionals can certainly determine our clients’ effective tax rates when
    we prepare the prior year return or do a projection for the current year.
    And using a percentage, the withholding remains correct, even when there are
    bonuses or other one-time payments.

    It’s clean, simple and uncomplicated.

    Thank you for your consideration.

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