An Overview for US Companies of the Revised Federal Form W-4
The Federal Tax Cuts and Jobs Act (TCJA), which took effect in January 2018, made significant modifications to both corporate and individual taxes. In September 2018, the IRS announced that it would mandate the use of a revised Form W-4 revisions on January 1, 2020. The 2020 version is expected to fully reflect tax law changes made by the TCJA. To help respond to these changes, SAP customers can integrate their SAP payroll with automated tax assignment and forms solutions to maintain employee tax profiles for federal, state, local, and territory taxes. Read this article to learn more.