By Payroll and Entitlements Editorial Staff
The IRS has reissued Form W-4 with minor changes. In the general instructions, in the paragraph beginning with Exemption from Withholding, the last sentence has been changed from “Then complete Steps 1a, 1b, and 5.”, to “Then complete Steps 1(a), 1(b), and 5.”
In the deductions worksheet Page 3, under Step 4(b), line 1, the percent of income (by which deductions exceed income) in the last line is reduced from 10% to 7.5%. Also on Page 3, under Step 4(b), line 4, “Part II” has been inserted in the text “(from Part II of Schedule 1 (Form 1040 or 1040-SR)).” (2020 Form W-4.)
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