New Tax Withholding Tables in Effect

(from the Society of Human Resource Management) The Internal Revenue Service on Jan. 11 released Notice 1036, which contains updated income-tax withholding tables for 2018 that reflect changes made by the tax reform law enacted at the end of December. The IRS also posted a set of Withholding Tables Frequently Asked Questions. Employers should begin using the 2018 withholding tables as soon as possible but not later than Feb. 15, 2018, the IRS said. HR compensation and payroll managers should work with their internal payroll departments and payroll vendors to ensure that their systems are appropriately adjusted in light of the IRS guidance. Employers should continue to use the 2017 withholding tables until implementing the 2018 withholding tables.

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