New Tax Withholding Calculator and W-4 Released By IRS

To aid individual taxpayers in determining the amount of tax to withhold from their paychecks following the new Tax Cuts and Job Act, the IRS has released an updated withholding calculator and a new version of Form W-4. Acting IRS Commissioner David Kautter said, “Following the major changes in the tax law, the IRS encourages employees to check their paychecks to ensure they’re having the right amount of tax withheld for their personal situation.”

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