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IRS Update: Tax Withholding Estimator, Lock-In Letters & 2020 W4

IRS Offers Guidance on Lock-In Letters

The IRS updated its Withholding Compliance Questions & Answers page to offer guidance on how to handle lock-in letters with the new Form W-4.

Understanding the 2020 Form W – 4 and How to Use it to Calculate Withholding

IRS webinar On-Demand

Topics covered:

  • the reason for new a design of the W-4
  • walk through each of the five steps on the new form
  • explain who is required to use the new 2020 form
  • discuss Publication 15-T
  • show how to complete two of the five available worksheets

Video

IRS Updates Tax Withholding Estimator for 2020

The IRS released a new version of its tax withholding estimator, which it states is “designed to help workers target the refund they want by having the right amount of federal income tax taken out of their pay.”

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