IRS changes 2020 W-4 withholding form

Thursday, December 5, 2019

Due to federal tax law changes that occurred in 2018, the Internal Revenue Service (IRS) is releasing a new Form W-4, Employee's Withholding Certificate, for 2020. This new form is vastly different from the current Form W-4 and will be available in Banner-Self Service after Jan. 1.

While employees are not required to complete this new Form W-4, it should provide more accurate individual withholding amounts. The IRS has published the 2020 Form W-4 Frequently Asked Questions to assist employees with completing the online form.

If employees do not submit a new form, withholding will continue based on their previously submitted form.

More information on the 2020 Form W-4 and helpful tax season reminders can be found on the Financial Services website.