IRS Releases New Draft Form W-4 to Help Taxpayers Avoid Withholding Surprises

Last year, after pushback from taxpayers and tax professionals, the Internal Revenue Service (IRS) promised to revisit form W-4, Employee’s Withholding Allowance Certificate. The IRS issued a statement confirming that "the Treasury Department and the IRS will incorporate important changes into a new version of the Form W-4, Employee’s Withholding Allowance Certificate, for 2020." Today, the IRS issued a draft of the 2020 Form W-4.

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