For the first time in more than three decades, the IRS has given its W-4 form -- which determines how much federal income tax is withheld from your paycheck -- a makeover.
But in 2020, for the first time in more than three decades, the IRS has given its W-4 form -- which determines how much federal income tax is withheld from your paycheck -- a makeover. The agency says the revamped design"reduces the form's complexity" and helps with the"transparency and accuracy of the withholding system."
"While it uses the same underlying information as the old design, it replaces complicated worksheets with more straightforward questions that make accurate withholding easier for employees," the IRS says on its website.Tax service company H&R Block breaks down what new W-4 form encompasses next to the old oneEssentially, it is very similar. Taxpayers now have different filing status choices in the new form.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
I Tried It Cosmetics's First Lipstick Line and Ended Up Meeting My Red-Lipstick SoulmateHere's everything you need to know about the Pillow Lips collection.
Read more »
Welcome to Get It Together WeekA cheat sheet to help you stay organized in the new year
Read more »
Song You Need To Know: Jelani Aryeh's 'Patagonia'A remarkably confident (and earnest) standout from the 19-year-old singer’s debut EP, ‘Helvetica’
Read more »
What you need to know about Australia's deadly wildfiresAustralia is being ravaged by the worst wildfires seen in decades, with large swathes of the country devastated since the fire season began in September.
Read more »
Exclusive: India PM Modi's office proposes waiving carbon tax on coalIndian Prime Minister Narendra Modi's office has proposed waiving a tax on ...
Read more »