IRS requires less paperwork from employers
The IRS is changing rules that required employers to send in employee-withholding forms (Form W-4s) that claimed more than 10 exemptions or that claimed complete exemption from withholding when $200 or more in weekly wages was expected, according Veterinary Economics Editorial Advisory Board member Gary Glassman, CPA, a partner with Burzenski & Co. PC in East Haven, Conn. Now, employers only need to submit a Form W-4 when the IRS requests one.
The IRS is changing rules that required employers to send in employee-withholding forms (Form W-4s) that claimed more than 10 exemptions or that claimed complete exemption from withholding when $200 or more in weekly wages was expected, according Veterinary Economics Editorial Advisory Board member Gary Glassman, CPA, a partner with Burzenski & Co. PC in East Haven, Conn. Now, employers only need to submit a Form W-4 when the IRS requests one. The IRS plans to use other documents, such as W-2s, to spot withholding problems.
