IRS Issues New Tools for 2018 Tax Withholding

    Posted by Soules Insurance on Tue, Mar 6, 2018

    As of Feb. 15, 2018, employers must use new tables to determine how much income tax to withhold from their employees’ paychecks. The Internal Revenue Service (IRS) issued the required new tables in Notice 1036 on Jan. 9, 2018. The new tables are also available in IRS Publication 15.

    In addition, the IRS issued a new Form W-4 and a new withholding calculator on Feb. 28, 2018. 

    The updated tools aim to help employers improve the accuracy of their tax withholdings under changes made by the tax reform law, the Tax Cuts and Jobs Act, which was enacted on Dec. 22, 2017.

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    Tags: IRS, Taxes and Fees, Taxes, Filing Taxes, Tax Tips, New Tools, New Tools for 2018, Tax Withholding