Payroll: Form W-4 - Revision history

Chanson: /* Example */

2021-12-23T16:02:18Z

Example

Chanson: /* W-4 Form */

2021-12-23T16:01:08Z

W-4 Form

Chanson: /* New W-4 Form for 2020 */

2021-12-01T21:32:57Z

New W-4 Form for 2020

Chanson: Reverted edits by Chanson (talk) to last revision by Pmorey

2021-01-07T13:01:45Z

Reverted edits by Chanson (talk) to last revision by Pmorey

Chanson: /* New W-4 Form for 2020 */

2021-01-07T13:00:35Z

New W-4 Form for 2020

Pmorey: /* New W-4 Form for 2020 */

2020-01-21T21:01:43Z

New W-4 Form for 2020

Chanson at 18:39, 20 January 2020

2020-01-20T18:39:58Z

Chanson: Created page with "==New W-4 Form for 2020== Keystone will support the new 2020 W-4 information in a future release. Please check this page periodically for updates. For 2020 the IRS has..."

2020-01-20T18:31:17Z

Created page with "==New W-4 Form for 2020== Keystone will support the new 2020 W-4 information in a future release. Please check this page periodically for updates. For 2020 the IRS has..."

New page

==New W-4 Form for 2020==
Keystone will support the new 2020 W-4 information in a future release. Please check this page periodically for updates.

For 2020 the IRS has created a new W-4 form which impacts calculation of federal taxes in Keystone Payroll.

In a forthcoming release of Keystone, we will automatically add new employee factors to the Federal Tax definition of every employee.

===New Employee Factors in Keystone Payroll===
Here is a description of the new factors and how they relate to the new 2020 W-4 form.
NOTE: These factors are only used with the 2020 W-4 Form.

{| class="wikitable"
|-
! Keystone Factor Id
! 2020 W-4 Form
! Comment
|-
| W4YEAR
|
| Enter 2020 when using the new 2020 W-4 form, blank otherwise
|-
| TAXFILEST
| Step 1(c)
| Enter: 1 for Single 2 for Married filing Jointly 3 for Married filing Separately 5 for Head of Household 6 for Qualifying Widower
|-
| W4TWOJOBS
| Step 2(c)
| Enter Y if the box is checked, blank otherwise
|-
| W4DEPEND
| Step 3 Line 3
| Enter the amount (this is an annual amount)
|-
| W4OTHINC
| Step 4 Line 4(a)
| Enter the amount (this is an annual amount)
|-
| W4DEDUCT
| Step 4 Line 4(b)
| Enter the amount (this is an annual amount)
|-
| TAXADDWH
| Step 4 Line 4(c)
| Enter the amount (this is a per pay period amount)
|}

===Example===
Here is an example 2020 W-4 Form for an employee:
[[File:Sample2020W4.PNG|600px]]

Here is an example from Employee Maintenance showing how to enter the data from the form into Keystone:
[[File:EmpMaint2020W4.png|400px]]

The employee has filled out the new 2020 W-4 Form. Enter "2020" in the W4YEAR factor.
The employee's filing status is Single. Enter "1" in the TAXFILEST factor.
The employee has checked the "two jobs" box in step 2(c). Enter "Y" in the W4TWOJOBS factor.
The employee has indicated 1 qualifying child under age 17 which results in a $2000 entry in step 3 line 3. Enter "2000" in the W4DEPEND factor.
The employee has indicated $8000 of Other Income in step 4 line 4(a). Enter "8000" in the W4OTHINC factor.
The employee has indicated $12000 of Deductions in step 4 line 4(b). Enter "12000" in the W4DEDUCT factor.
The employee has indicated $50 of Extra Withholding in step 4 line 4(c). Enter "50" in the TAXADDWH factor.

@@ Line 51: / Line 51: @@
 [[File:EmpMaint2020W4.png|400px]]
-<p>The employee has filled out the new 2020 W-4 Form. <b>Enter "2020" in the W4YEAR factor.</b></p>
+<p>The employee has filled out the new W-4 Form. <b>Enter "2021" in the W4YEAR factor.</b></p>
 <p>The employee's filing status is Single. <b>Enter "1" in the TAXFILEST factor.</b></p>
 <p>The employee has checked the "two jobs" box in step 2(c). <b>Enter "Y" in the W4TWOJOBS factor.</b></p>

@@ Line 1: / Line 1: @@
 ==W-4 Form==
-For 2020 the IRS has created a new W-4 form which impacts calculation of federal taxes in Keystone Payroll.
+In 2020 the IRS created a new W-4 form which impacts calculation of federal taxes in Keystone Payroll.
-In a forthcoming release of Keystone, we will automatically add new employee factors to the Federal Tax definition of every employee.
+Going forward, Keystone automatically adds new employee factors to the Federal Tax definition of every employee.
 ===New Employee Factors in Keystone Payroll===
 <p>Here is a description of the new factors and how they relate to the new 2020 W-4 form.</p>
-<p><i>NOTE: These factors are only used with the 2020 W-4 Form.</i></p>
+<p><i>NOTE: These factors are only used with the new W-4 Form.</i></p>
 {| class="wikitable"

← Older revision		Revision as of 21:32, 1 December 2021
Line 1:		Line 1:
−	==~~New~~ W-4 Form ~~for 2020~~==	+	==W-4 Form==
	<b>Keystone 3.6.5 and higher support the new 2020 W-4 form.</b>		<b>Keystone 3.6.5 and higher support the new 2020 W-4 form.</b>

@@ Line 1: / Line 1: @@
-==New W-4 Form for 2019==
+==New W-4 Form for 2020==
-<b>Keystone 3.6.5 and higher support the new 2019 W-4 form.</b>
+<b>Keystone 3.6.5 and higher support the new 2020 W-4 form.</b>
-For 2019 the IRS has created a new W-4 form which impacts calculation of federal taxes in Keystone Payroll.
+For 2020 the IRS has created a new W-4 form which impacts calculation of federal taxes in Keystone Payroll.
 In a forthcoming release of Keystone, we will automatically add new employee factors to the Federal Tax definition of every employee.
 ===New Employee Factors in Keystone Payroll===
-<p>Here is a description of the new factors and how they relate to the new 2019 W-4 form.</p>
+<p>Here is a description of the new factors and how they relate to the new 2020 W-4 form.</p>
 <p><i>NOTE: These factors are only used with the 2020 W-4 Form.</i></p>

@@ Line 1: / Line 1: @@
-==New W-4 Form for 2020==
+==New W-4 Form for 2019==
-<b>Keystone 3.6.5 and higher support the new 2020 W-4 form.</b>
+<b>Keystone 3.6.5 and higher support the new 2019 W-4 form.</b>
-For 2020 the IRS has created a new W-4 form which impacts calculation of federal taxes in Keystone Payroll.
+For 2019 the IRS has created a new W-4 form which impacts calculation of federal taxes in Keystone Payroll.
 In a forthcoming release of Keystone, we will automatically add new employee factors to the Federal Tax definition of every employee.
 ===New Employee Factors in Keystone Payroll===
-<p>Here is a description of the new factors and how they relate to the new 2020 W-4 form.</p>
+<p>Here is a description of the new factors and how they relate to the new 2019 W-4 form.</p>
 <p><i>NOTE: These factors are only used with the 2020 W-4 Form.</i></p>

← Older revision		Revision as of 18:39, 20 January 2020
Line 59:		Line 59:
	<p>The employee has indicated $12000 of Deductions in step 4 line 4(b). <b>Enter "12000" in the W4DEDUCT factor.</b></p>		<p>The employee has indicated $12000 of Deductions in step 4 line 4(b). <b>Enter "12000" in the W4DEDUCT factor.</b></p>
	<p>The employee has indicated $50 of Extra Withholding in step 4 line 4(c). <b>Enter "50" in the TAXADDWH factor.</b></p>		<p>The employee has indicated $50 of Extra Withholding in step 4 line 4(c). <b>Enter "50" in the TAXADDWH factor.</b></p>
		+
		+	Search Terms: W4