IRS Issues Final Version of 2020 Employee Withholding Form (1)

The final version of the 2020 withholding form was issued Dec. 4 by the Internal Revenue Service.

Form W-4, Employee’s Withholding Certificate, included revisions that clarified instructions from the second draft that was released in August. In comparison to the second draft, no substantial changes were made to the form’s data fields, which outline five steps for reporting dollar-amount adjustments to withholding.

Updated instructions for the form’s Step 2, which provides options for employees to adjust withholding in households with multiple jobs, explain the degrees of withholding accuracy using the IRS online withholding tax estimator, the Step 2b worksheet, ...