W-4's

HRanna · January 2004

It appears the I.R.S. issues a new W-4 form each year, with no changes except for the date {i.e., in the upper left corner of the page it says "Form W-4 (2004)" and on the form itself it has a year (2004) in the upper right corner}.

Does it matter if I have been using an "old" 2002 form?

Don D · January 2004

It's not uncommon for companies to use old issues of the form, as long as there have not been changes to the form that require additional information.

It's funny that this won't be found in the lengthy 'Paperwork Reduction Act' notifications that come with government forms and processes. This causes us all to trash lots of government forms each year and replace them with new issues. Somebody paid for those forms. Wonder who.

hrbanker · January 2004

I would use the current form because the calculation for determining exemptions changes with the tax laws. You can download the new form from [url]www.irs.gov[/url] and copy as many as you need for your new hires for the year. I also download the W-5.

Don D · January 2004

I didn't realize the calculations in accounting and payroll had anything to do with the actual election made on the form, which is stating marital status and showing a simple number of dependents, isn't it? The calculations changing doesn't affect the elections of the 20 year employee who filled out a form in 1984, why would it affect one who filled out a two year old form this year?

CJ_2 · January 2004

Don, you ate too much turkey over the holidays. x:D I think what the poster was asking was if it mattered if an old W-4 was used. It doesn't matter, but I like to use the most current version for new enrollees or for older employees who want to perhaps make changes to their tax deductions.

Don D · January 2004

My response did sound like I was full of something. What I meant was I still don't think it matters if an old election form is used since the form, no matter which issue it is, contains the same requests for numbers and status.

CJ_2 · January 2004

I just had to rag you a little. I read the thread on what is appropriate for the forum and got quite a chuckle from some of the responses. By the way, Happy New Year to you and all the Forumites.

mwild31 · January 2004

[font size="1" color="#FF0000"]LAST EDITED ON 01-12-04 AT 07:10PM (CST)[/font][br][br]The front of the W-4 may not change (except for the date), but the worksheets that help the ee determine their deductions do - as the tax laws change from year to year. Since it's a very simple task to go the site provided above & download the most current form - we always provide the most current form for the year. Also, now is a good time, actually December was better, but better late than never, to tell folks to review their deductions.

Don D · January 2004

I've never, in any job, told employees to review their deductions. Besides creating more work for the admin staff, I think that's something that the ee is totally responsible for. But, to each his own.

POPEYE · January 2004

I agree. You have to draw the line somewhere as to when you stop "Babysitting".

ritaanz · January 2004

Seems to me that it's very simple. Employee does his tax return. Employee owes money to IRS. Employee comes in and asks to file another W-4. Bingo. Done.

mwild31 · January 2004

[font size="1" color="#FF0000"]LAST EDITED ON 01-13-04 AT 11:37AM (CST)[/font][br][br]For some reason my post, posted twice.

mwild31 · January 2004

[font size="1" color="#FF0000"]LAST EDITED ON 01-13-04 AT 11:31AM (CST)[/font][br][br]Here's the thing - and I probably should have elaborated. I put in my newsletter something to the effect - hey, are your deductions still correct? In the quick blurb, I tell them where they can find the IRS website & tell them about the IRS's W-4 calculator tool - it's just an added service we provide to our employees. A review of deductions is a good idea - but we don't force them - we just put it out there that it's a good idea to review and if they choose to change, they can get the new paperwork from the HR office. I don't know about you guys, but each year, even with the newsletter, we still have people coming in around the 1st of April in tears because they owe the IRS money - if education/awareness can help one person - it's worth it & the paperwork in minimal. Just my thoughts. x:-)

djacobs475 · January 2004

Every January, we have all our employees complete new W-4s. We do it as a matter of course - to make sure everything is up to date. It also enables us to verify that there have been no status changes i.e. different address, etc... which the employee might have forgotten to tell us about.

CJ_2 · January 2004

I used to do as you are doing in the middle of December for Federal and State, but Personnel Records were getting to cumbersome, so I now just let EE's know that forms are available if they desire to make any changes.

W-4's

Comments