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Payroll Today

Withholding under the new W-4 regime

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Alice Gilman

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in Payroll Today

Last week we deviated from our strict payroll perspective to bring you a sneak peak of the 2018 Form 1040. And we’re sure that we’ll deviate again. After all, the Tax Cuts and Jobs Act is just chock full of good stuff that we haven’t highlighted yet and it’s a long summer.

But this week we’re back to dissecting the 2019 W-4.

Eight steps, lots of heartburn

To a large extent, income tax withholding is fairly standard, based as it is on the number of withholding allowances employees write on their W-4s. There are a couple of exceptions, which require you to personalize withholding for individual employees—those who claim an exemption from income tax withholding (the amount to withhold is $0) and those who want an additional flat amount withheld. We would wager that’s not a lot of people.

The draft W-4 instructions contain a withholding example for employers. Based on the example the IRS provides, it seems as i...(register to read more)

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