Get the most out of your 2021 taxes.
There is a new W-4 form. While only new employees will be required to complete this form in 2020, current employees should consider updating their form as well.
The new form eliminates the “personal exemption” factor of calculating taxes. New tax calculations could change whether you will owe taxes when filing in 2021, depending on if your withholding status changes.
The IRS launched an updated Tax Withholding Estimator this month, a calculator to help determine how much to withhold from your taxes (e.g. supports with changes to income and withholding status). Look for the Tax Withholding Estimator calculator on the IRS’s website, alongside information to help fill out the new W-4.
Find GE Appliances’ W-4’s on the WorkDay website at https://www.irs.gov/individuals/tax-withholding-estimator