The US redesigns payroll tax withholding forms for 2020

Expat Academy The US redesigns payroll tax withholding forms for 2020

To conform to the income tax withholding requirements of the Tax Cuts and Jobs Act, the Internal Revenue Service (IRS) redesigned Form W-4 (Employee’s Withholding Certificate).  The new Form W-4, which took effect on the 1 January 2020, features significant changes that reduces the form’s complexity and increases the transparency and accuracy of the withholding system.  The new form will have a direct impact on employees who are hired in the 2020 calendar year, as well as existing employees who wish to make changes to their withholdings.

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