Thursday, 16 August 2018 11:03

2018 W4 Form - Child Tax Credit, Deduction Changes

First, I'm not a CPA and I am not offering any tax advice.  I came across the new pdf2018 W4 form and wanted to share my findings when I compared it to the pdf2017 form.  See images below.  The screenshots have the 2017 version on the left, and the new 2018 version on the right. 

It seems the deductions for children for lowest income bracket are now worth double (4) compared to 2017 (2): 

w4-comparison-1

 

The standard deductions also doubled:  

w4-comparison-2

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