Jean Wiskowski, Senior Vice President & Chief Marketing Officer
Keeping Promises Since 2015
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.
The contribution limit for employees who participate in 401(k), 403(b), and most 457 plans in 2018 is to increase to $18,500 from $18,000, the Internal Revenue Service said Oct. 19.