IRS Statement: Withholding for 2018
On December 26, the IRS announced they are still working to develop withholding guidance to implement the new tax reform law, which was signed on December 22.
They anticipate issuing withholding guidance in January and stated that “employers and payroll service providers will be encouraged to implement the changes in February…In the meantime, employers and payroll service providers should continue to use the existing 2017 withholding tables and systems.” They also confirmed that employees will not need to complete new Forms W-4.
The complete statement from the IRS is available on their website: https://www.irs.gov/newsroom/irs-statement-withholding-for-2018
If you have any questions, please contact our Payroll team at (210) 293-6620 or [email protected].