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ROCHESTER, N.Y., Dec. 5, 2019 /PRNewswire/ — Paychex, Inc., a arch provider of HR technology solutions for animal resources, payroll, benefits, and allowance services, has adapted its systems to board the new Anatomy W-4 issued backward bygone by the IRS, while continuing to abutment adding methods of the antecedent W-4 for its customers. All new advisers assassin as of January 1, 2020 charge complete the new Anatomy W-4, as able-bodied as any accepted advisers who ambition to accomplish denial adjustments.

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“Throughout this process, which began with the admission of the Tax Cuts and Jobs Act of 2017, Paychex has actively affianced with the IRS, accouterment acknowledgment to the abstract versions of the Anatomy W-4,” said Frank Fiorille, Paychex carnality admiral of Risk, Compliance, and Data Analytics. “We’re appreciative of the administration role we’ve taken in the amount industry, alive with the IRS to abode the areas of greatest importance, communicating with our barter about this impactful change, and bound afterlight our systems to abutment amount calculations based on both the new W-4 and the antecedent version.”

What has changed? The IRS has adapted the anatomy to bigger reflect the accepted tax cipher accustomed beneath the Tax Cuts and Jobs Act of 2017. Key changes accommodate the abolishment of denial allowances and the adeptness for taxpayers to accept moretax withheld to abode the apropos of those who had to accidentally pay tax back filing in the years afterward the tax ameliorate legislation.

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Who does this change impact? All new advisers assassin as of January 1, 2020 charge complete the new form. Existing advisers are not appropriate to complete a new anatomy but can accept to acclimatize their denial based on the new form. Any adjustments fabricated afterwards January 1, 2020 charge be fabricated application the new form. Employers, therefore, charge be able to compute employees’ withholdings based on both the old and new versions of the Anatomy W-4.

How is Paychex acknowledging customers? Over the accomplished several months, Paychex has provided updates to its barter to abutment them through this change, including advisory assets and links to the abstract versions of the adapted form, forth with denial calculators. With the official absolution of the new W-4, Paychex barter will accept seamless admission to the adapted W-4 for new employees, as able-bodied as advisers who accept to accomplish denial adjustments.

Visit Paychex WORX for an overview of the new Anatomy W-4 and the considerations to accumulate in apperception as the anatomy rolls out abutting year.

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As allotment of the new W-4, the IRS has provided a worksheet to adviser taxpayers through the achievement of the new anatomy accessible at www.irs.gov/pub/irs-pdf/fw4.pdf.

About PaychexPaychex, Inc. (NASDAQ: PAYX) is a arch provider of chip animal basic administration solutions for payroll, benefits, animal resources, and allowance services. By accumulation its avant-garde software-as-a-service technology and advancement belvedere with dedicated, claimed service, Paychex empowers small- and medium-sized business owners to focus on the advance and administration of their business. Backed by added than 45 years of industry expertise, Paychex serves over 670,000 amount audience as of May 31, 2019, beyond added than 100 locations in the U.S. and Europe, and pays one out of every 12 American clandestine area employees. Learn added about Paychex by visiting www.paychex.com, and break affiliated on Twitter and LinkedIn.

Media ContactLisa FlemingManager, Public Relations Paychex, Inc.(585) [email protected] @PaychexNews

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 How to Fill Out a W-17 Form

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View aboriginal agreeable to download multimedia:http://www.prnewswire.com/news-releases/paychex-supports-customers-with-new-form-w-4-through-rapid-system-update-and-other-resources-300970310.html

SOURCE Paychex, Inc.

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Last Updated: December 17th, 2019 by tvemh
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