March 02, 2018
The IRS recently issued a new Form W-4, Employee’s Withholding Allowance Certificate, for use in tax year 2018.
Due to the tax reform law that was enacted in December, the IRS is encouraging all employees to use the online withholding calculator to perform a “paycheck checkup” to make sure they have the right amount of income tax withheld from their paychecks, according to the news release announcing the new form.
The Payroll Department cannot advise you on the number of exemptions to claim or calculate “what-if” scenarios. Ultimately, it is the taxpayer's responsibility to understand the tax system and ensure their tax withholding is correct.