[Mail_treas] FW: 2018 Tax Tables NOT Available Yet

[Debra Dinnen]

Happy New Year, MVECALAND!

Please see state software’s email below.

Deb M Dinnen
MVECA
Financial Software Specialist
937-767-1468 x3113
dinnen at mveca.org<mailto:dinnen at mveca.org>
[MVECA New logo]

From: Kim Olson [mailto:olson at nwoca.org]
Sent: Tuesday, January 02, 2018 7:28 AM
To: ssdt_notices at nwoca.org
Subject: 2018 Tax Tables NOT Available Yet

ITC's and Independent Staff:
I am sending this email out to all of you because many of you have inquired on the status of the Tax Tables for 2018.
The IRS has published the following on December 26, 2017 regarding tax changes for 2018:

"The IRS is working to develop withholding guidance to implement the tax reform bill signed into law on December 22.  We anticipate issuing the initial withholding guidance in January, and employers and payroll service providers will be encouraged to implement the changes in February. The IRS emphasizes this information will be designed to work with the existing Forms W-4 that employees have already filed, and no further action by taxpayers is needed at this time.

Use of the new 2018 withholding guidelines will allow taxpayers to begin seeing the changes in their paychecks as early as February.  In the meantime, employers and payroll service providers should continue to use the existing 2017 withholding tables and systems."

I will continue to monitor the IRS website daily for the 2018 Percentage Tax Tables.  As soon as the tables are available, I will update the tables and release them via OECN_OOPS.  As the IRS has stated above...districts will need to continue to use the existing 2017 withholding tables until the 2018 tables are available.

I hope this helps answer any questions you have regarding the 2018 tax tables.

Thank you,

Kim Olson
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listserv.mveca.org/pipermail/mail_treas/attachments/20180102/5aed993e/attachment.htm>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.png
Type: image/png
Size: 5251 bytes
Desc: image002.png
URL: <http://listserv.mveca.org/pipermail/mail_treas/attachments/20180102/5aed993e/attachment.png>