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2018 W-4 Released

The IRS has released the 2018 W-4.  The W-4 is available here:

https://www.irs.gov/pub/irs-pdf/fw4.pdf

This update has been eagerly anticipated by payroll professionals and employees alike following the passage of the Tax Cuts and Jobs Act (TCJA).  The IRS had previously extended the effective period of the 2017 W-4 and did not require that employees complete a new W-4 for 2018.  The W-4, while similar in appearance to the 2017 version, features significant changes to the worksheets to reflect the TCJA, and employees are encouraged to review the new W-4 and their current withholding status and to update their W-4 form with their employer.

In an effort to assist employees in calculating their withholding status, the IRS has made a withholding calculator available here:

https://apps.irs.gov/app/withholdingcalculator/

While using the calculator is not required, both the IRS and tax professionals encourage employees to perform a “checkup,” of their individual withholding status and tax withholdings in light of the tax law changes for 2018.  Of course, reviewing individual withholdings is always advised on an annual basis and as individual circumstances change in order to ensure the proper taxes are being withheld.



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