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IRS previews changes to withholding in proposed regs

Business Management Daily

LOCK-IN LETTERS IN 2020: A continuing question regarding lock-in letters is whether you must maintain separate withholding systems for lock-in letters referencing pre-2020 W-4s and the other for 2020 W-4s. federal, state and local taxes) and only to the extent they won’t be left with $0 net pay. 8344, 2-13-20).

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Proposed regulations for new W-4 and withholding process focused on accuracy

Business Management Daily

federal, state and local taxes) and only to the extent they won’t be left with $0 net pay. Some provisions requiring employees to refile their W-4s weren’t included in the instructions to the 2020 W-4, so it would be a good idea to communicate them to employees. Bottom line: Accuracy wins. What’s new for employers.

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