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You are here: Home Human Resources Pressroom ANNOUNCEMENTS Federal Withholding Change For Tax Year 2018

Federal Withholding Change For Tax Year 2018

Priority: Informational

In December of 2017, new legislation (TCJA) was passed changing many areas of the tax law.  A significant change was made to the components used to calculate federal tax withholding.  Some of the changes include:

  • Increased standard deduction
  • Eliminated personal exemptions
  • Changed tax rates and brackets

Less federal taxes are being withheld due to these changes.  Employees’ personal tax returns for 2018, which employees file in 2019, may be affected.  Employees with more complex tax profiles, two income families, and employees with multiple jobs may be more vulnerable to being under withheld or over withheld.

The Internal Revenue Service (IRS) , the Office of the State Comptroller (OSC) and Office of Payroll Administration (OPA) strongly urge all employees to complete a “paycheck checkup” to verify they are having the right amount of tax withheld from their paychecks.

 

The IRS Withholding Calculator or other withholding calculators can help employees determine the correct amount of withholding.  Employees will need the previous year’s personal income tax return in order to maximize the benefit provided by the calculator.  This tool allows employees to enter income, deductions, adjustments, credits, and receive a recommendation on whether they should complete a new Form W-4 (Employee’s Withholding Allowance Certificate).  

The IRS Withholding Calculator can be accessed at: https://www.irs.gov/individuals/irs-withholding-calculator

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