Important notice to employees on changes in income tax withholding
by Kathleen McCoy |
New withholding tables may reduce the amount of income tax withheld from your wages.
The new tables, prescribed by the Department of the Treasury, reflect the Making Work
Pay credit and other changes resulting from the American Recovery and Reinvestment Act of 2009.
You do not have to submit a Form W-4, Employee's Withholding Allowance Certificate,
to get the automatic withholding change. If you do not want to have your withholding
reduced (because, for example, you have more than one job or you are married and your
combined income places you in a higher tax bracket), you may want to file a new Form
W-4 with your employer. You may claim fewer
withholding allowances on line 5 or request additional amounts to be withheld on line
6.
For additional help, get IRS Publication 919, How Do I Adjust My Tax Withholding? or visit the IRS Web site and use the "Withholding Calculator."
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