IRS Issues Form W-4 and Withholding Calculator for 2018-Check Your Federal Tax Withholding
March 2, 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.
Update your W-4 Online in DrexelOne
Please check your current W-4 setup in DrexelOne. If changes are required to your federal income tax withholding, you may also update your W-4 using the portal. Instructions for reviewing and updating your W-4 status in DrexelOne are available on the Payroll Department website.
If you choose to submit a W-4 form to the Payroll Department for processing, rather than update your withholding online, scan your W-4 and submit it to the Payroll Department through AskDrexel. Instructions for submitting a request to the Payroll Department through AskDrexel and attaching a document to your request are available on the Payroll Department website.
Please Note: It is not necessary to submit a copy of your W-4 form to Payroll if you update your withholding in DrexelOne.
Any time you submit an updated W-4, remember to check your next pay stub to verify that your change has had the desired effect on your federal income tax withholding.
Please contact the Payroll Department at firstname.lastname@example.org or 215.895.2885 if you have questions.