The 2018 and 2019 Forms W-4 included the first batch of changes that were brought about by the Tax Cuts Job Act (TCJA).  The 2020 W-4 form completes the process so that our Employee's Withholding Certificate (W-4) is now aligned with the tax changes that were a result of the TCJA.
 
Here is a summary of some of the changes that you may notice:
  1. The word Allowance has been taken off the name of the form and we no longer choose a number of allowances.
  2. The available options for your anticipated filing status have changed.
  3. The form is a full page.
  4. The option to claim "Exempt" is no longer an obvious one.  On page 2 of the document, you will see what someone should do if they are claiming "Exempt."
Two additional bits of information you may want to be aware of:
  • Employees are not required to complete a new 2020 W-4 form.  The tables for using the 2019 form are still available to use and iSolved will still calculate taxes if nothing is changed from what an employee had listed in 2019.
  • A GA Department of Revenue representative told the APA that federal form W-4 will no longer be accepted for state withholding purposes in 2020, but to check the updated state form (Form G-4) for additional information.  The updated version should be available early in 2020.

Recommended For You

Thread Makes 2022 Best places to Work List! Press Release

Thread Makes 2022 Best places to Work List!

Elisa Lahr August 5, 2022
5 Reasons to Rehire Former Employees Hiring Human Resources

5 Reasons to Rehire Former Employees

Worried About Retention? The Best Way to Keep Employees Is to Be Useful to Them Employee Engagement Human Resources

Worried About Retention? The Best Way to Keep Employees Is to Be Useful to Them