Payroll on Bloomberg Tax is built to get you to the right answer faster and more efficiently. Get all the payroll intelligence you need with Bloomberg Tax expert analysis, perspectives and...
By Michael Baer
The 2018 Publication 505, Tax Withholding and Estimated Tax, was revised April 16 by the Internal Revenue Service to include a key step missing from an earlier version so that individuals could successfully calculate their estimated taxes for withholding purposes.
The previous version of the publication, dated March 29, was released April 1.
Under the revision, Step 16 was added to Worksheet 1-6, to provide a more accurate figure when converting tax credits to equivalent withholding allowances to include on Form W-4, Employee’s Withholding Allowance Certificate. Form W-4 is provided to employers to calculate income taxes to be withheld from employee pay.
Step 16, which was missing from the earlier version of the publication, instructs employees to divide a total amount derived in Step 15 by the 2018 withholding allowance amount, $4,150, to come up with a number of withholding allowances to be claimed on Form W-4.
Copyright © 2018 The Bureau of National Affairs, Inc. All Rights Reserved.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)