New Draft of Form W-4 Anticipated Soon

According to the IRS, the new draft of Form W-4 that they scrapped last September is being replaced with a new new draft which should be released by May 31, 2019. You may remember that the first draft looked a lot more like Form 1040 than the old Form W-4 where you pretty much just filled in Married and 1 or Single and zero, or something relatively simple. 


The Details

The original draft asked employees for a lot of personal information, like spouse’s wage information,  wages from other jobs……….things that taxpayers might not want to disclose to their employers.  Citing confusing instructions and difficulty of use, the IRS chose not to roll out that version of Form W-4 for use in 2019.

Instead, they will release a (somewhat) friendlier draft of Form W-4 open to public comment later this spring.  Taxpayers will still need backup documentation in order to fill out the new Form W-4, including last year’s tax return, paystubs, previous year W-2’s or 1099’s.  And married employees where both spouses work will still need to know information about each other’s incomes.

Once the new draft Form W-4 is released, the IRS will solicit public comment on the new form.  The plan is for the IRS to then release a revised draft later in 2019, with a final 2020 Form W-4 being released by the end of 2019.

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