The Internal Revenue Service (IRS) gave the W-4 a makeover for 2020. This is the first major redesign of the form since 1987. The 2020 W-4 will look very different from previous versions to you and your employees, as the IRS has omitted the “allowances” which had been used to calculate withholdings. Previously your allowances were tied to your number of personal exemptions; however due to changes in the law, you will no longer claim personal exemptions or dependency exemptions.