Jean Wiskowski, Senior Vice President & Chief Marketing Officer
Keeping Promises Since 2015
The 2018 Form W-4, Employee’s Withholding Allowance Certificate, released Feb. 27 by the Internal Revenue Service, applies the same general approach to determining withholding allowances as the 2017 form. The form retains personal allowances for 2018, although personal exemptions were eliminated in the new tax law.
The 2017 Forms W-4 that employees already have filed may be used by employers in conjunction with the new tax law based on upcoming guidance from the Internal Revenue Service, the agency said Dec. 26.
The 2018 withholding tables for New York state, New York City, and Yonkers were released Nov. 21 by the state's Department of Taxation and Finance.
The Social Security Administration on Nov. 27 lowered the 2018 Old-Age, Survivors and Disability Insurance taxable wage base to $128,400 from $128,700, which was announced Oct. 13.
Each year, the agency publishes inflation adjustments for more than 50 tax provisions. The latest adjustments are to be used on 2018 tax returns filed in 2019.