As the New Year rapidly approaches, the small business tax compliance group at Sure Payroll shares some vital information small business owners need to know before 2020 begins.

The 2020 Form W-4 has been redesigned to comply with employee withholding requirements in the Tax Cuts and Jobs Act (Tax Reform).

The form eliminates confusing worksheets and instead uses a 5-step process to more accurately determine the amount of employee withholding.

New employees and employees changing their withholding for 2020 are required to use the new form, but employers cannot force existing employees to do so.

The 2019 Form W-4 will still work with the new tax tables, although it is recommended that existing employees complete a new form to ensure the correct withholding for 2020. | To read full story, visit https://startuparound.com/read/1577127610.4713495/Tax-Form-Changes:-The-2020-Form-W-4-has-been-redesigned?ref=audio_experience