IRS Releases 2023 Publication 15-T Draft

A draft of the 2023 federal income tax withholding methods was released Nov. 15 by the Internal Revenue Service.

The draft Publication 15-T, Federal Income Tax Withholding Methods, contains reminders about the new Forms W-4P and W-4R similar to those in the draft Publication 15, Employer’s Tax Guide. The forms were redesigned starting with 2022 but must be used starting the later of Jan. 1, 2023, or 30 days after the final forms are published on IRS.gov, the IRS said.

Publication 15-T’s Worksheet 1B is used to calculate withholding from all periodic pension or annuity payments, regardless of the ...