No time to lose! Start using IRS’s new 2018 withholding tables ASAP
Let Payroll know: IRS has just given your payroll staffers the information they need most to get their job done this year — and they must begin using that info after February 15.
The new 2018 federal withholding tables have been released.
Here’s what you and your team need to know.
Still more to come
The new withholding tables reflect the increase in the standard deduction, as well as the repeal of personal exemptions and changes to both tax rates and brackets. And as promised, they’re set up to work with employees’ existing W-4s on file.
Get familiar fast – you’re required to use these by Feb. 15.
This isn’t the last you’ll be hearing on the subject. IRS says it will issue additional guidance, including:
- a new withholding tax calculator on IRS’s website, and
- a revised W-4 to account for the tax law changes.
We’ll let you know as each new update gets released.
To download IRS Notice 1036, go to irs.gov/pub/irs-pdf/n1036.pdf
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