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IRS offers preview of withholding guidance for employers

Source: https://accountingtoday.com/news/irs-offers-preview-of-form-w-4-income-tax-withholding-guidance-for-employers - Jun 13, 2019

The Internal Revenue Service posted a special early draft of its publication on federal income tax withholding to give employers an advance look at the changes in the new Form W-4 that is being revised for 2017 tax law.
An IRS office building in East Harlem

Publication 15-T, Federal Income Tax Withholding Methods, will be for use next year and will contain all the federal income tax withholding tables. The IRS released the draft publication last Thursday to provide employers a better sense of the computation of withholding to be made under the Percentage Method and Wage Bracket Method tables using both the new 2020 Form W-4 and the Forms W-4 from before 2020.

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Category: General Business