The IRS Has Released New W-4 and Withholding Calculator

by Diane McBride on March 12, 2018

in Administrative

Taxes Sign

The new IRS W-4 form and an online withholding calculator to assist in filling out the form are now available on the IRS website.

You are not required to change your W-4 withholdings, but it is highly encouraged by the IRS to take a look and use the online tool as early as possible so you do not have any surprises at the end of the year.  If changes are needed, the calculator will give you the information needed to fill out a new W-4.

You can learn about IRS recommendations, access the calculator, or download a new W-4 form here, on the IRS website.

Remember, this change is due to the federal tax law recently implemented and only affects your federal tax situation. If you are one of the many employees who fill out one W-4 that covers both federal and state withholdings with the same withholding calculation, and you wish to keep your state withholdings as they currently are and only change the federal withholdings, two W-4s need to be filled out and a written note at the bottom of each declaring “federal only” or “state only”.

As always, we are here to help with any questions.

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