What would cause the tax withheld on our W2 forms to decrease last year? we did not make any withholding changes
The IRS lowered the withholding tables in 2018 which required employers to then withhold at lower rates. This was done because of the Tax Cuts and Jobs Act of 2017 which lowered several income tax rate brackets. See more information below:
What would cause the tax withheld on our W2 forms to decrease last year? we did not make any withholding changes
The IRS lowered the withholding tables in 2018 which required employers to then withhold at lower rates. This was done because of the Tax Cuts and Jobs Act of 2017 which lowered several income tax rate brackets. See more information below:
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