IRS created a new tax form called the “Employee’s Withholding Certificate” to replace the former W-4.  The redesigned 2020 Employee’s Withholding Certificate form is not yet available from the IRS.  When the new form is released by the IRS, Central Payroll Bureau will create the final version for state use.  We expect to get the new form early to mid-December. As soon as this form is released  from the state, we will make it available to campus.  Since the W-4 will be changed, we are not able to use the prior year W-4 by crossing out the year and updating it as we have done in the past.

Employees hired in January may not have access to the 2020 Employee’s Withholding Certificate (former W-4) if they complete their new hire paperwork in December.  As soon as the form becomes available these employees must submit a 2020 Employee’s Withholding Certificate (former W-4) in order to be taxed correctly.    If this occurs while UMBC is on winter break, we will make the form available on our website  https://hr.umbc.edu/payroll-tax-information/ and employees can MAIL THE FORM DIRECTLY TO CENTRAL PAYROLL BUREAU. 

FAQ: https://www.irs.gov/newsroom/faqs-on-the-draft-2020-form-w-4

Sample form: https://www.irs.gov/pub/irs-dft/fw4--dft.pdf (IRS Draft)

• The basics: what you might expect
• The basics: using the SS website
• The basics: calculating your benefit
• Building your retirement income plan 
• Claiming strategies
• Claiming options
• Key considerations

This free webcast on Financial Do's and Don'ts of Divorce will cover:

·         Into and some eye-opening numbers

·         Getting prepared

·         Getting through it 

·         Rebuilding 

·         Do's and don'ts 

·         Resources available