IRS Updates W-4, Calculator Used to Figure Withholding

by Ken Berry | Mar 02, 2018   ()

As promised, the IRS announced on February 28 that it has delivered a new version of Form W-4 for withholding tax from paychecks, reflecting changes in the new Tax Cuts and Jobs Act (TCJA).

The agency has also updated the calculator used to calculate withholding (IR-2018-36, 2/28/18). The “fixes” come on the heels of revised withholding tables issued earlier this year.

With these new tools at their disposal, your clients may avoid withholding too much or too little tax for the 2018 tax year.

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Source: Accounting Web
Source: Accounting Web

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