Draft 2020 Form W-4 Addresses Some Privacy Concerns
On May 31, the IRS released a draft 2020 Form W-4 that addresses some, but not all, of the privacy concerns that led the IRS to abandon the redesigned form for 2019. According to an accompanying news...
View ArticleIRS Releases Updated Tax Withholding Estimator
Today, the IRS unveiled its new Tax Withholding Estimator to help employees complete the Form W-4 and ensure that withholdings are sufficient to cover their income tax liability. The new calculator...
View ArticleIRS Issues Interim Guidance on Income Tax Withholding from Deferred Income...
The IRS recently released Notice 2020-3, which provides interim guidance on default federal income tax withholding rates applicable to certain periodic payments of deferred income. The Notice also...
View ArticleIRS Launches New Tax Withholding Estimator
Earlier this year, the IRS issued IR-2020-09, in which it announced the launch of a new and improved Tax Withholding Estimator. The Tax Withholding Estimator (the “Estimator”) is designed to help...
View ArticleIRS Releases Proposed Regulations on the Mechanics of Income Tax Withholding
Today, the IRS published proposed regulations addressing changes made by the Tax Cuts and Jobs Act of 2017 (the “TCJA”) to how an employee instructs an employer to withhold income taxes on his or her...
View ArticlePreamble to Final Regulations on the Mechanics of Income Tax Withholding...
On October 6, the IRS published final regulations addressing changes made by the Tax Cuts and Jobs Act of 2017 (the “TCJA”) to how an employee instructs an employer to withhold income taxes based on...
View ArticleDraft Publication 15-T Provides Additional Details on Form W-4 Computations
As previewed by the recent final Form W-4 regulations published in October (see earlier coverage), the IRS released a draft of Publication 15-T (Federal Income Tax Withholding Methods) on November 17....
View ArticleIRS Withholding Guidance Expected in January
In a news release, the IRS today announced that it anticipates issuing initial withholding guidance to implement the changes under the tax reform bill in January 2018. Employers and payroll service...
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