Major Changes to Form W-4 Pushed Back Until 2020 Tax Year
On June 5, 2018, the Internal Revenue Service (IRS) issued a draft Form W-4, Employee's Withholding Allowance Certificate. This new form was to take into account the Tax Cuts and Jobs Act of 2017 (TCJA) that was approved by Congress on December 22, 2017, eliminating personal exemptions. After much criticism regarding the complexity of this form, the Treasury Department announced on September 20, 2018, that the IRS will not be implementing the new Form W-4 until the 2020 tax year.
Click here to read about the updated information regarding the Form W-4.Source: Internal Revenue Service