A draft version of Publication 15-T, Federal Income Tax Withholding Methods, containing a new worksheet for withholding from periodic pension or annuity payments was issued Dec. 3 by the Internal Revenue Service.
The 73-page draft Publication 15-T contains separate federal percentage and wage-bracket withholding methods for use with Forms W-4, Employee’s Withholding Certificate, completed before 2020 and for forms completed in 2020 and later.
The new Worksheet 1B may be used with the automated percentage method tables and was added to accommodate the revised Form W-4P, Withholding Certificate for Periodic Pension or Annuity Payments. The updated form, for which a ...
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