New Federal Form W-4
Where can I locate the new Federal Form W-4?
The 2020 Federal Form W-4 is listed as "Federal W-4 Form" under "Government" on the Forms page. The form is also located on the IRS website here: https://www.irs.gov/pub/irs-pdf/fw4.pdf.
Will I need to submit a new W-4?
If you were hired before January 1, 2020, the IRS does not require that you submit a new form. Your withholding will continue based on your previously-submitted W-4.
However, if you wish to change your withholding after January 1, 2020, you will need to use the new form to do so.
What happens if I don't submit a 2020 form?
- For current employees with a valid W-4 already on file, your withholding will continue based on your previously-submitted form.
- For new employees, if you do not submit a valid Form W-4, taxes will be withheld as if you are a single filer with no adjustments (per IRS regulations).
Does this new form affect my state tax withholding?
The Tax Cuts and Jobs Act does not directly affect state tax withholding, though state tax laws and forms may change from time to time. At this time, the State of Illinois has not announced any changes to the current Illinois withholding form.
What if I have additional questions?
Loyola University Chicago is not able to provide individual guidance on completion of the new W-4 or any related tax implications. Please visit the IRS Tax Withholding Estimator and/or the IRS 2020 W-4 Frequently Asked Questions for additional information. For further assistance, we recommend that you contact a tax professional.