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Payroll Update - 27JAN2018

Posted by Kevin S. Matthews Posted on Jan 27 2018

The IRS has issued notice 1036, where they discuss how withholding rates will change for the 2018 year going forward. Since the Tax Cuts and Jobs Act of 2017 will remove personal exemptions, it was our expectation exemptions are no longer going to be factored into how much will be withheld. This will simplify the system and make it easier for taxpayers in general. 

For a copy of the act, please visit the following link: IRS Notice 1036