The IRS recommends the following groups check their withholding:
- Two-income families
- People with two or more jobs at the same time or who only work for part of the year
- People with children who claim credits such as the Child Tax Credit
- People who itemized deductions in 2017
- People with high incomes and more complex tax returns
In addition to these tools, the IRS has issued a list of Frequently Asked Questions for employers and employees who may have questions about the new Form W4 and accompanying Withholding Calculator. We have incorporated these Frequently Asked Questions into a FAQ document which will be available in tandem with this alert.
The new 2018 Form W4 will be available within Web Pay in the coming weeks; should you require a copy of the form earlier, a PDF version of the form is available here: https://www.irs.gov/pub/irs-pdf/fForm W-4.pdf
Thank you for choosing Paylocity as your Payroll Tax partner. Should you have any questions please contact your Paylocity Account Manager.
This information is provided as a courtesy, may change and is not intended as legal or tax guidance. Employers with questions or concerns outside the scope of a Payroll Service Provider are encouraged to seek the advice of a qualified CPA, Tax Attorney or Advisor.