USNH Payroll Update - New Federal W-4 Form for 2020

Wednesday, December 18, 2019

The 2020 Form W-4, Employee’s Withholding Certificate, has been released and is very different from previous versions.

The Internal Revenue Service (IRS) is not requiring all employees to complete the revised form and has designed the withholding tables so that they will work with both the new and prior year forms. However, certain employees will be required to use the new form: those hired in 2020 and anyone who makes withholding changes during 2020.

Even though a revised form may not be required, we recommend that all employees perform a “paycheck checkup” to see if any adjustments to current withholding are warranted. To conduct the checkup, you can use the IRS’s Tax Withholding Estimator. To effectively use the estimator, it is helpful to have a copy of your most recent pay stub and tax return. The estimator will be updated to account for the 2020 tax tables in early January.

IMPORTANT:  If you do not submit a new Form W-4, withholding will continue based on your previously submitted form.

For new hires and those completing the new 2020 Form W-4 for updates, please read the form instructions.

  • You MUST complete Steps 1 and 5.
  • Steps 2, 3, and 4 are optional, but completing them may help ensure that your federal income tax withholding will more accurately match your tax liability.

The IRS has also published Frequently Asked Questions that you may find helpful as you complete the form -

PLEASE NOTE: Neither USNH Payroll nor campus Payroll staff are tax advisors and cannot assist employees in completing either the IRS Tax Withholding Estimator or the 2020 Form W-4. If you require assistance in either of these areas, it is recommended that you contact a personal tax advisor.