IRS Issues Draft Form W-4 for 2019
On June 5, 2018, the IRS issued a draft Form W-4, Employee’s Withholding Allowance Certificate. The new W-4 is a two-page condensed version that takes into account the Tax Cuts and Jobs Act of 2017 (TCJA). Under the TCJA, which was approved by Congress on December 22, 2017, personal exemptions were eliminated. The IRS has warned taxpayers that this a draft form and changes will be made, if needed, and a final form will be released later in the summer. Taxpayers not wishing to provide their employers with the additional information required on the new W-4 form can use the withholding calculator on the IRS website to calculate their appropriate withholding amount. Please see the attached draft Form W-4 and instructions.
Source: Accountants' Daily News