The National Association of Enrolled Agents has written a letter to the Internal Revenue Service strongly criticizing the draft version of the new Form W-4, the Employee’s Withholding Allowance Certificate, saying it raises privacy concerns and creates a “substantial risk of under-withholding.” . . In a letter last week to IRS acting commissioner David Kautter, the NAEA president Jean Nelsen warned that the new form, which the IRS substantially redesigned in response to the Tax Cuts and Jobs Act, would unnecessarily increase the burden on both taxpayers and employers. She noted that the instructions and the accompanying worksheets total 11 pages and are too long and complicated. To prepare the new Form W-4, taxpayers are directed to reference up to 12 other publications and forms, including Publications 524, 970, 968, 514, 590, 530, 502, and 5120 and Forms 3800, 8834, 8801, and 8859, she noted.. . . #Minimalist #Millennials #Insurance #RealEstate #Realtor #RealestateAgent #TaxTips #BusinessTaxes #TaxAdvice #FinancialAdvisor #FinancialPlanning #MortgageBroker #Business #SelfEmployed #BusinessOwner (at San Diego, California)
