Federal Tax Post – 02/05/18

Attention payroll departments: A new version of the 2018 wage levy exemption table will be released this month. The IRS announced plans to issue an update of the 2018 Publication 1494, “Tables for Figuring Amount Exempt from Levy on Wages, Salary, and Other Income,” sometime in February. The publication is used to determine the amount of wages, salaries and other income that is exempt from a federal tax levy in 2018. The new version, which incorporates provisions of the Tax Cuts and Jobs Act, will replace the version issued in January as initial guidance.

By | 2018-02-13T09:30:06+00:00 February 5th, 2018|Federal Tax Posts|Comments Off on Federal Tax Post – 02/05/18