Tax Reform Update

Taxpayers may be impacted by the Tax Cuts and Jobs Act of 2018 based on the new withholding tax tables that the University of Wisconsin implemented on payroll payments dated on or after February 1, 2018. Therefore, the IRS is advising employers to notify their employees to review their personal situation to determine how the tax law changes may be impacting their tax withholding.

Taxpayers may use the IRS Withholding Calculator to estimate their income tax for 2018. This calculator will provide taxpayers information about adjusting their withholding allowances and/or their additional withholding amounts for federal income tax.

After completing this analysis on the IRS website, current W4 withholding allowances can be found on the last earning’s statement in the “Tax Data” box.

Employees can go to to complete an amended W4.  All completed forms should be submitted to Human Resources for processing.