The IRS will extend through the 2020 tax year previous guidance on withholding tax rates and procedures.
Dec. 18 guidance deals with withholding tax rules for income from pensions, annuities, and certain other deferred income under tax code Section 3405.
- Notice 2020-3 also requests comments for future years. The deadline for comments is Feb. 17, 2020.
- The previous guidance came in the form of two notices: Notice 2018-14 and Notice 2018-92.
- The agency is considering whether the 2020 default rate of withholding under Section 3405 will continue to be appropriate for future years, it said in...