On January 1, 2020, an updated version of the Form W-4 Employee’s Withholding Certificate will be available on the Pulse through Employee Self-Service and under Departments–Finance–Payroll–Payroll Documents. Because of federal tax law changes, the 2020 Form W-4 is very different from previous versions. The Internal Revenue Service (IRS) does not require all employees to complete the revised form; however, you must complete the new form if you:
- Were hired in 2020.
- Currently claim “exempt.”
- Plan to make withholding changes during 2020.
If you do not submit a new form, withholding will continue based on your previously submitted form.
If you are completing the 2020 Form W-4, please read the instructions carefully and remember:
- You must complete Steps 1 and 5.
- Complete Step 2 through Step 4 only if they apply to you. Doing so will make your withholding more accurately match your tax liability.
The IRS takes your privacy seriously and suggests that if you are concerned 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, use the IRS’s Tax Withholding Estimator.
If your tax situation has not changed, the IRS recommends that you still perform a “paycheck checkup” to determine if you need to adjust your current withholding. To conduct the checkup, use the Tax Withholding Estimator. It is helpful to have a copy of your most recent pay stub and tax return when using the estimator.
For additional information, please refer to the IRS Frequently Asked Questions or consult your tax advisor or professional.