IRS Prop. Reg.: Wage Withholding After Tax Reform (IRC §3401)

Proposed regulations that provide guidance for employers concerning the amount of federal income tax to withhold from employee’s wages, implementing the 2017 TCJA, and reflecting the redesigned 2020 Form W-4 and related IRS publications, issued by the IRS February 11. The proposed regulations and related guidance do not require employees to furnish a new Form W-4 solely because of the redesign of the Form W-4, the IRS stated in a news release. The proposed regulations permit employees to use the new IRS Tax Withholding Estimator to help them accurately fill out Form W-4. Generally, taxpayers may rely on the proposed ...