One of the first documents that new-hire employees fill out when they get on the job and one of the documents that should be updated every year is the Form W-4. For more than three decades, it has remained largely unchanged.

Not any more.

This year, the W-4 has gone through a significant update to make the withholding system more accurate and more transparent. As the IRS says, it will “ensure (a) smooth taxpayer experience.”