A first draft of the 2023 Form W-4P and a second draft of the 2023 Form W-4R were released Dec. 2 by the Internal Revenue Service.
The draft Form W-4P, Withholding Certificate for Periodic Pension or Annuity Payments, includes changes to the note at the bottom of Step 2.
“To be accurate, submit a new Form W-4P for all other pensions/annuities if you haven’t updated your withholding since 2021 or this is a new pension/annuity that pays less than the other(s). Submit a new Form W-4 for your job(s) if you have not updated your withholding since 2019,” the ...
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