In early 2018, the IRS took the first step to reflect the Tax Cuts and Job Act by releasing the new withholding tables. PeopleGuru implemented the 2018 Withholding Calculations immediately following the release that reflected in payroll as early as Saturday, January 13, 2018.
On January 11, 2018, the Internal Revenue Service (IRS) released Notice 1036, which updates the income-tax withholding tables for 2018. The new table reflects the changes in the Tax Jobs and Cuts Act of 2017 that was enacted by legislation last month.
Payroll processing is an important aspect for every organization. It’s the way you reward and retain your people for all of their hard work. Failure to accurately pay your people can result in penalties, fines, and disengaged employees.
Without the right resources and knowledge, processing payroll can be frustrating, time consuming, and complicated. This is why many organizations choose to outsource payroll and tax management to a third-party provider. Whether or not your organization outsources payroll or performs processes in-house, here are 5 things you need to know and the top resources to help: