The Tax Cuts and Jobs Act (TCJA) has brought on major tax law change that impacts small businesses. The TCJA enhanced some tax breaks, repealed others and modified several deductions that are likely to affect a majority of business owners. Here’s more detail on the new income tax withholding tables.
New income tax withholding tables
The IRS released updated income tax withholding tables that employers must use to update their payroll systems. Employees can check using the withholding tool on the IRS website to see if their withholding amounts are correct.
If you have any questions, visit with one of our Tax experts.
Published: 9-13-18
