IRS Issues New Withholding Tables

The Internal Revenue Service released updated tax withholding tables for 2018 to reflect changes for the Tax Cuts and Jobs Act, amid warnings that the tables may not be accurate and will need further refinements. To see the updated tax withholding tables for 2018 please click on the following link:

Notice 1036 is only the first in a number of steps the IRS intends to take to improve the accuracy of withholding after the major changes in the new tax law, the service cautioned.

Among other things, the new tables reflect the increase in the standard deduction, the repeal of personal exemptions, and changes in tax rates and brackets.