The Internal Revenue Service (IRS) has released the final version of the new 2020 Form W-4, retitled Employee’s Withholding Certificate, with major revisions designed to make accurate income-tax withholding easier for employees starting next calendar year. In addition, the agency has also launched a new online spreadsheet tool (the Income Tax Withholding Assistant for Employers) to help employers transition to the new system which goes into effect with the New Year. All new employees hired as of January 1, 2020, will be required to complete the new W-4, while current employees – not required to complete a new form – may still choose to adjust their withholding based on the new version. Should employees choose to make adjustments to their withholding after January 1, 2020, the new form must be used. Employers can still compute withholding based on information from employees’ most recently submitted Form W-4 if employees choose not to adjust their withholding.