IRS Proposes Major Revisions to Form W-4 for 2020

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The Internal Revenue Service (IRS) has released a draft Form W-4 for use in tax year 2020, which includes significant changes designed to further implement the Tax Cuts and Jobs Act (TCJA) passed in December 2017. The redesigned Form W-4 no longer uses the concept of withholding allowances, which was previously tied to the amount of […]

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Source: HR Daily Advisor