Federal income tax withholding methods and withholding forms for 2021 soon are to be finalized by the Internal Revenue Service, agency officials said Dec. 3.
The finalized Publication 15-T, Federal Income Tax Withholding Methods, is to be released by the end of December, a spokesman said during the agency’s monthly payroll industry teleconference.
Draft withholding tables indicated that the value of a withholding allowance in withholding calculations is to be $4,300 for 2021, unchanged from 2020. The tables, issued Nov. 17 by the IRS as an attachment to the draft Publication 15-T, use inflation-adjusted amounts for 2021.
A finalized version ...
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