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Re: New Form W-4
Starting in 2020, Form W-4, Employee’s Withholding Certificate, is very different
from previous versions. This is due to the federal tax law changes that took place
in 2018.
Please read the instructions that are included with the form. You must complete
Steps 1 and 5. Steps 2, 3, and 4 are optional, but completing them will help ensure
that your federal income tax withholding will more accurately match your tax
liability. Step 1 is for your personal information; Step 2 is for households with
multiple jobs; Step 3 is used to claim tax credits for dependents; Step 4 is for
other adjustments (additional income such as interest and dividends, itemized
deductions that exceed the standard deduction, and extra tax you want
withheld); and Step 5 is where you sign the form.
The IRS takes your privacy seriously and suggests that, if you are worried about
reporting income from multiple jobs in Step 2 or other income in Step 4(a), you
check the box in Step 2(c) or enter an additional withholding amount in Step 4(c).
To determine the additional withholding amount, you can use the withholding
estimator.
The IRS has also published Frequently Asked Questions that you may find helpful
as you complete the form (https://www.irs.gov/newsroom/faqs-on-the-draft-
2020-form-w-4).