Reminder about new IRS Withholding Calculator and new tax laws for your 2018 tax planning
As we stated in this prior Alert - On 2/28/2018, the Internal Revenue Service released an updated Withholding Calculator on IRS.gov and a new version of Form W-4 (Employee's Withholding Allowance Certificate) to help taxpayers check their 2018 tax withholdings following passage of the Tax Cuts and Jobs Act in December 2017 and its associated changes to the tax laws.
The IRS urges taxpayers to use these tools to make sure they have the right amount of tax taken out of their paychecks. If changes to withholding should be made, the Withholding Calculator gives employees the information they need to fill out a new Form W-4, which employees will then submit to their employer.
The calculator can be found at the IRS' website - https://www.irs.gov/individuals/irs-withholding-calculator.
If you'd like us to review your 2018 tax planning in light of the new tax laws, the new withholding calculator, and/or your personal 2018 tax situation, please let us know.
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