Is it Time to do a “Paycheck Checkup”?

The Internal Revenue Service has made a recent announcement suggesting part-year or seasonal employees to do a “paycheck checkup”. The changes made from The Tax Cuts and Jobs Act (enacted earlier in the year) have made some significant differences in how the withholding tax gets calculated this year.  Part-year and seasonal workers are especially vulnerable to incorrect calculations due to …

IRS Tax Withholding Calculator

2018 brought several changes, a primary one being our tax law. As always, it’s important for you or your employees to understand the taxes being taken from their paycheck. It helps prevent an unanticipated tax bill when 2018 taxes are filed. The IRS has created a new W4 withholding calculator to assist taxpayers in calculating the correct amount of taxes …

Changes to Federal Tax Withholding for 2018

The IRS recently released updates to the income-tax withholding tables for 2018. This change updates the 2018 tax tables in accordance with the tax reform legislation enacted at the end of the year (HR1). Employers should update their tables as soon as possible, but at least by February 15th. The IRS states that the new law “makes a number of …