Subscribe Register Login

Sunday, December 21, 2014, 4:42 a.m.
Top Picks - Mobile App

IRS issues new paycheck withholding tables to reflect ’13 taxes

By Bloomberg News

This article was published January 3, 2013 at 9:07 a.m.

— The Internal Revenue Service released new withholding tables to reflect the 2013 tax rates that President Barack Obama signed into law Wednesday.

For most workers, that will mean little change, because Congress reinstated the marginal tax rates that were in place for all except 0.7 percent of taxpayers — those with annual taxable income exceeding $400,000 for individuals and $450,000 for married couples.

In a statement Thursday, the IRS instructed employers to make the change as soon as possible and no later than Feb. 15.

The biggest difference for many taxpayers will come from the expiration of the 2 percentage-point cut in the payroll tax. A worker making $50,000 a year who is paid twice a month will have $41.67 more withheld than in 2012.

The IRS hasn’t made an announcement about the opening of the 2013 tax filing season. The late legislative action may cause a delay from the scheduled January start, because Congress retroactively reinstated a provision that shielded 28 million households from the alternative minimum tax.

Comments on: IRS issues new paycheck withholding tables to reflect ’13 taxes

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

TOP JOBS

  • Service writer

    Transport Refrigeration service writer We are looking for a ...
    LOWELL, AR

  • Radiology

    immediate openingslittle rock campus:Rad Tech/Registry Elig ...
    LITTLE ROCK, AR

  • Medical

    Currently has openings for the following positions:1Register...
    HELENA, AR

  • Various positions

    Arkansas Electric Cooperative Corporation has an immediate o...
    LITTLE ROCK, AR

  • Class a cdl drivers

    driverscome See Mesilla Valley Transportation at Our Job Fai...
    NORTH LITTLE ROCK, AR

Search 866 jobs >

Top Picks - Mobile App
Arkansas Online