On December 22nd, the President signed a tax reform bill which will make substantial changes to the US tax system.

The changes will mostly have practical ramifications beginning in 2018. As soon as the IRS releases the updates, we will implement the changes in our system.

The IRS just announced that they anticipate issuing the guidance to payroll providers and employers by January and encourage payroll providers to have the changes implemented by February. Until then, all the withholdings will be the same as in 2017.

The IRS is working to ensure that employers will be able to continue to do the withholdings based on the current W-4’s they have from their employees and their employees will not be required to give them updated W-4’s.

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