New Features
> New W-4 Form for Payroll Year 2020
New W-4 Form for Payroll Year 2020
The IRS has released a new W-4 for 2020 and titled the new form "Employee's Withholding Certificate" which includes significant changes to assist employees with calculating withholding. These changes to the form were ushered in by the Tax Cuts and Jobs Act which took effect last year.
All new employees hired in 2020 must use this new W-4 form. Existing employees who wish to make withholding adjustments will also use this new form.
If Steps 2, 3, or 4 on the W-4 form apply to employees and they provide this information, their withholding will more accurately match their tax liability.
On an employee card in the Card File under Payroll Details and Taxes, there's a new option to select Use Form W-4 2020 and Later or 2019 and Earlier. This will determine which fields are displayed for entering amounts into the new boxes that match up with Steps 2, 3, and 4 on the W-4 form.
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