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sanders-melody
Level 2

Can I change the w4 status to 2020 to see the difference in tax withholding and change back to 2019 if the results are unfavorable?

 
11 Comments
Anna S
QuickBooks Team

Can I change the w4 status to 2020 to see the difference in tax withholding and change back to 2019 if the results are unfavorable?

Good evening, @sanders-melody

 

The W-4 forms in Desktop for 2019 and 2020 are both able to be viewed. You can see 2019's form that you filed this year, and create the 2020 form from your account. Here's how:

 

  1. Go to the Employees tab and select the Payroll Center.
  2. Choose the Payroll tab.
  3. On the right-hand side, pick the File Forms tab.
  4. View the 2019 form under Filing History.
  5. Press the Create Form button to open the 2020 form.

 

That's all there is to it. Now, you can view both forms to see which tax withholding works better for your business. 

 

Feel free to drop a line if you have any other questions. Best wishes!

W4
Level 1

Can I change the w4 status to 2020 to see the difference in tax withholding and change back to 2019 if the results are unfavorable?

Can I revert back to the 2019 W4 after I created a paycheck using the 2020 W4?

W4
Level 1

Can I change the w4 status to 2020 to see the difference in tax withholding and change back to 2019 if the results are unfavorable?

Can I change the W4 back to 2019 after I have processed a paycheck under the W4 2020?

Nick_M
QuickBooks Team

Can I change the w4 status to 2020 to see the difference in tax withholding and change back to 2019 if the results are unfavorable?

Hello, W4. 

 

While that would be an awesome feature, there is no way to change between 2019 and 2020 W-4’s. This is especially true if you’ve already processed a paycheck.

 

Hope this helps clarify things a bit more.

Patmar2
Level 2

Can I change the w4 status to 2020 to see the difference in tax withholding and change back to 2019 if the results are unfavorable?

I changed the form W-4 of an employee from 2019 to 2020 and later. How do I change it back? 

 

Thank you! 

Patmar2
Level 2

Can I change the w4 status to 2020 to see the difference in tax withholding and change back to 2019 if the results are unfavorable?

Oh no. This is not good. 

I have to re enter all the checks starting from January 2020 even the payroll but I need to go back to W-4 2019 for few of the previous ones. 

 

I'm screwed. lol 

KlentB
QuickBooks Team

Can I change the w4 status to 2020 to see the difference in tax withholding and change back to 2019 if the results are unfavorable?

Hi Patmar2, 

 

I'll share some information about how W-4 Form works in QuickBooks Desktop.

 

Once you update an employee’s W-4 to the 2020 version, you’ll not be able to change back to the 2019 version. To fix this, we'll have to manually the enter year-to-date (YTD) amounts of your 2019 payroll. The YTD amounts are the summaries of employee paychecks and associated company liabilities for this calendar year to date.

 

I'll guide you how:

 

  1. Click the Help icon.
  2. Select About QuickBooks Desktop.
  3.  Press Ctrl + Alt + Y, or Ctrl + Shift + Y to open the Setup YTD Amount Window, then click the the Next button.
  4. When prompted to enter the date you want your YTD entries to affect accounts, enter your estimated first payroll date in both boxes, then hit Next.
  5. Enter your estimated first payroll date, and select Next.
  6. Select the appropriate employee, hit the Enter Summary button.
  7. Enter the necessary information (make sure that you've selected the appropriate dates).
  8. When you're done, click OK.
  9. Repeat the same steps for the other employees.

I encourage you to visit this article to learn more about the new changes to the Federal W-4 and how to enter and print a W-4 for employees: What’s changing with the Federal W-4?

 

If you need to track where your company stands in terms of employee expenses, you can refer to this link: Customize payroll and employee reports.

 

I'll always have your back if you need further assistance in managing your payrolls. I'm just one post away.

ConnieJOS
Level 1

Can I change the w4 status to 2020 to see the difference in tax withholding and change back to 2019 if the results are unfavorable?

I actually did this and I do not have a 2020 W4 from the employee.  I was just curious what difference it would make.  He does not want to submit a new W4 and his hire date was in 2001.  I haven't done a payroll with the new W4 info.  Do I understand correctlly that I can't change it back?

DivinaMercy_N
QuickBooks Team

Can I change the w4 status to 2020 to see the difference in tax withholding and change back to 2019 if the results are unfavorable?

Thank you for joining this thread, @ConnieJOS.

 

I'd be glad to give some additional information about the 2020 W-4. 2020 is well underway and employers will have to use the latest version of Form W-4 Employee’s Withholding Certificate. This IRS form was revised to more accurately calculate withholding due to the changed tax law made in 2017.

 

When you change the default option from 2019 to 2020, you'll receive a pop-up letting you know the following before you proceed:

  • Hire date is on or after Jan. 1 of 2020.
  • You will not be able to switch back to the 2019 version.

 

You can also check out this link from the IRS that offers answers to FAQs on the 2020 Form W-4.

 

To learn more about the new changes to the Federal W-4, please refer to this article link: What’s changing with the Federal W-4?

 

Please leave a reply below if you have further questions. The Community is always here to help you. Take care always. 

Patmar2
Level 2

Can I change the w4 status to 2020 to see the difference in tax withholding and change back to 2019 if the results are unfavorable?

Thank you. Your information was very helpful. 

Nick_M
QuickBooks Team

Can I change the w4 status to 2020 to see the difference in tax withholding and change back to 2019 if the results are unfavorable?

Hi, Patmar2. 

 

I'm happy to see my colleague was able to help you find the answers you were looking for, if you have any other questions, feel free to post here.

 

The Community's got your back!. 

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