[IGPP Everyone] [EPSS Everyone] FW: 2018 Federal Tax Tables...

[Brown, Carlene]

This is mostly FYI concerning tax law changes, with the most important points highlighted. Please stay tuned for more information as it becomes available.

Carlene Brown
CAO, Earth, Planetary, and Space Sciences
Phone: 310-825-9784
Fax: 310-825-2779

From: Henmi, Jeremy [mailto:jhenmi at finance.ucla.edu]
Sent: Thursday, January 25, 2018 4:35 PM
To: payroll-news at lists.ucla.edu
Subject: [payroll-news] 2018 Federal Tax Tables...


Dear Colleagues,



UCLA Payroll has implemented the 2018 Federal withholding rates effective for checks dated February 1, 2018 and after.  We have also posted the Federal and State withholding tables on our website under the “Charts and Calendars<https://www.finance.ucla.edu/payroll/charts-calendars>” section.



In an announcement regarding the new tax tables, the IRS highlighted the following:



·         Many employees will begin to see increases in their paychecks to reflect the new law in February.

·         The new withholding tables are designed to work with the Forms W-4 that workers have already filed with their employers to claim withholding allowances. This will minimize burden on taxpayers and employers. Employees do not have to do anything at this time.

·         The new law makes a number of changes for 2018 that affect individual taxpayers. The new tables reflect the increase in the standard deduction, repeal of personal exemptions and changes in tax rates and brackets.

·         For people with simpler tax situations, the new tables are designed to produce the correct amount of tax withholding. The revisions are also aimed at avoiding over- and under-withholding of tax as much as possible.

·         To help people determine their withholding, the IRS is revising the withholding tax calculator on IRS.gov. The IRS anticipates this calculator should be available by the end of February. Taxpayers are encouraged to use the calculator to adjust their withholding once it is released.

·         The IRS is also working on revising the Form W-4. Form W-4 and the revised calculator will reflect additional changes in the new law, such as changes in available itemized deductions, increases in the child tax credit, the new dependent credit and repeal of dependent exemptions.



The UC W-4/DE4 is based on the Federal W-4 form. As soon as the IRS provides the updates for the 2018 form and UCOP incorporates those updates into the new UC W-4/DE4, we will post a link to the 2018 version in our “Forms<https://www.finance.ucla.edu/payroll/forms>” section.



The full IRS announcement can be found here: https://www.irs.gov/newsroom/updated-2018-withholding-tables-now-available-taxpayers-could-see-paycheck-changes-by-february.



More information is available in the Withholding Tables Frequently Asked Questions<https://www.irs.gov/newsroom/irs-withholding-tables-frequently-asked-questions>.

UCLA Payroll Services
Payroll Office Hours: 7:30 am to 3:00 pm M – F
Telephone Hours: 9:00 am to 12 Noon, and 1:00 pm to 3:00 pm M- F

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