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2022 Withholding table

Will the new "Act" change the 2022 withholding tables?

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shirleyh88
Employee Tax Expert

2022 Withholding table

Hello Cmsheridan155,

Thank you for your question. I am happy to assist you.

The “Inflation Reduction Act of 2022” signed by President Biden on August 16, 2022 includes new tax provisions, extensions as well as expansions of tax benefits that are related to energy efficiency and healthcare. Please refer to the article by clicking on the link below for more information:

https://blog.turbotax.intuit.com/health-care/inflation-reduction-act-of-2022-52555/

However, this “Act” does not include any update on the federal tax withholding table. But you never know if additional changes may be added to the “Inflation Reduction Act of 2022” in the near future which may include updates to the federal tax withholding table.  As for now, please refer to the below link for reference to the current tax withholding table:

https://www.patriotsoftware.com/blog/payroll/income-tax-withholding-tables/

Please let me know if this answers your questions, or if I can be of further assistance.

Thank you!

 

Shirleyh88

 

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