New IRS Withholding Calculator Released

The IRS has released the new federal W-4 withholding calculator. This calculator will help you determine the correct number of allowances to claim on your IRS Form W-4, which may have changed because of the new tax regulations that went into effect in January. To use the calculator effectively, you will need your most recent pay slip. If, after using the calculator, you wish to change your current number of allowances by filing a new W-4, you may do so in Workday, by clicking on the “Pay” Icon, then under “External Links,” select “Update Tax Forms.”

See the IRS announcement, IRS W-4 Calculator New Release, which announces the tool’s release and provides tips on how to successfully use the calculator.

Note: The W-4 IRS Calculator is a tool for employees to use to see if their federal tax withholding is adequate. Use of it is strictly voluntary. The Payroll staff cannot offer tax advice; you are encouraged to consult with your personal tax advisor if you have questions regarding the accuracy of your W-4.