|The new W4 applies to any newly added employee on or after January 1, 2020 or any employee that makes changes to their W4 on or after January 1, 2020.|
Specific questions can be directed to the IRS website: https://www.irs.gov/newsroom/faqs-on-the-2020-form-w-4
The steps below assist in what values on the new W4 apply to what fields on the 001 federal record. The highlighted fields indicate what values may need something entered (based the employee's completed W4).
1. First set the 'Use new W4' field to Y.
2. Based on the box checked in 1c, enter the coordinating filing status in the 'Marital/filing stat' second ___ field.
Single or Married filing seperately = 1
Married filing jointly = 2
Head of household = 3
The system requires a value be placed in both ____ ____ fields. When the 'Use new W4' field is set to a Y, the first ___ is NOT used at all. Enter a 1 or 2 in this field to allow the record to be added.
3. Based on the box in Step 2c, enter Y or N in the '2 like jobs' field.
Y = Box in 2c is checked
N = Box in 2c is not checked
4. Based on the value in Step 3, enter that amount in the 'Depend' field.
5. Based on the value in Step 4a, enter that amount in 'Income' field.
6. Based on the value in Step 4b, enter that amount in the 'Deduct' field.
7. Based on the value in Step 4c, enter that amount in the 'Addt'l withhold' field.