The IRS works with The Treasury Department on Form W-4, Employee’s Withholding Allowance Certificate whenever it needs an update. There is likely going to be a new form for 2020 but it appears to be more detailed and complex as it takes more time than expected and it is something unusual for the IRS.
It is because the Form W-4 we use right now is very similar to the one that we’ve used in 2019 and therefore, it didn’t really take that much of time for the IRS and Treasury Department. So the 2019 version of the form is very similar to the one we’ve used in 2018.
However, it appears that the new form is going to be quite different possibly more detailed than the current W-4.
When should employees sign a new Form W-4?
In most cases, you, as an employee do not need to file a Form W-4 once your employer determines your withholdings but you can always submit a new one to change your withholding at any time.
The off-putting part is that if you want to change it immediately, you must submit the most recent updated Form W-4 to your employer.
Looking for the 2020’s Form W-4? Unfortunately, it hasn’t been released by the IRS yet as of writing this post. But of course, it will be updated once the IRS releases the new form on its website to the public. Once it is out, you can reach it by clicking the link below.