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Payroll Today

At last! 2018 Form W-4 and withholding calculator

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The IRS promised a new withholding calculator by the end of February, and it kept its promise. On Feb. 28 it released an updated withholding calculator and the 2018 Form W-4.

Both reflect changes made by the Tax Cuts and Jobs Act, the tax reform legislation that took effect Jan. 1.

Meet the new W-4

The new form looks a lot like the old form. But the whole package has doubled in size—from two pages to four pages—thanks mainly to expanded instructions for employees. The personal allowances worksheet moves to page three and is more complicated because of the doubling of the standard deduction, the suspension of personal exemptions and changes to dependent tax credits.

Especially for you: The IRS has renamed Box 9 to First date of employment, so you can use the form to report new hires to the state directory.

Now that the IRS has released the 2018 form, it’s a good idea to distribute new forms to everyone. The expande...(register to read more)

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