Michigan Treasury Releases Form MI W-4P, Withholding Certificate for Michigan Pension or Annuity Payments, Instructions

The Michigan Department of Treasury Jan. 1 released Form MI W-4P, Withholding Certificate for Michigan Pension or Annuity Payments, for individual income tax purposes. The form includes line-by-line instructions. The Treasury: 1) instructs taxpayers to use the form to notify their pension administrator of the correct amount of income tax to withhold from their pension or annuity payments; 2) provides information on multiple pensions and estimated payments; 3) advises taxpayers to promptly complete the form and provide it to the administrator of their retirement benefits; and 4) clarifies that a failure to withheld sufficient tax from retirement benefits may result ...