There’s a new W-4 in town, and it’s…different. The US Department of the Treasury Internal Revenue Service (IRS) issued a new Form W-4, Employee’s Withholding Certificate, for 2020.

If an employee receives their first paycheck from your organization in 2020, they are required to use the updated form. Employees who wish to change their withholding should also use this form. Employers are not required to have current employees complete the updated form.

The newly redesigned form is the first major redesign of the form since 1987. The new design was meant to streamline the form and make it easier, though it may look quite different to employees. For example, withholding allowances are no longer part of the form. Changes in law, such as the Tax Cuts and Jobs Act, factored into the changes as well.

See the new Form W-4.

Watch a short video about the updated Tax Withholding Estimator tool.  

Read more in this issue of Colorado Green NOW:
Old-fashioned advocacy methods work best
ProGreen addresses the business of the green industry
Looking for talent? Ask what they want.
Proposal to shield off-duty cannabis use in Colorado