Changes to Your Form W-4

The IRS has redesigned the Form W-4 due to changes in the tax law that eliminated personal exemptions/allowances. The new Form W-4 should make it easier for you to make any changes to your employer tax withholding. There are several reasons to check your withholding, such as protecting against having too little tax withheld and facing an unexpected tax bill or penalty at tax time. On the other hand, if you often have a large refund, perhaps you would prefer to have less tax withheld up front and receive more money in your paychecks throughout the year.

There is no need to file a new Form W-4 merely because of the redesign. However, if you want to make changes to your 2020 withholding, be sure to contact me as soon as possible so we can file a new Form W-4 prior to your first 2020 pay period.