Oh no! The IRS is changing the W-4! While the final version of the form isn't expected until November, the current draft gives us a good idea of what employers and employees will begin using starting in 2020.
What does this mean for my employees and the taxes they pay (because you know they're going to ask you those questions)? Taxes, payroll, the IRS, their forms, and everything associated with these requirements can all seem so confusing and stressful to employees. These things are often referred to as “adulting” because they bring with them anxiety and fear, and they seem to encourage avoidance. In reality, the changes aren't as daunting as they seem. Here's an overview of what you should know when your employees ask.