IRS Guidance on Calculating 2013 Federal Income Tax Withholding
Posted on Dec 18, 2012.
On the December 6 payroll industry telephone conference call, the IRS was asked by two callers how they should calculate 2013 withholding, as the callers expect to begin processing 2013 payroll soon.
The IRS replied that it has not yet received the 2013 tables, which come from the U.S. Treasury Department. The IRS speculated that guidance on this issue may come from the Treasury Department soon, but stressed that it has not yet received any guidance on how to proceed.
One of the callers followed up by asking, "Do we continue to use the 2012 withholding tables?" The IRS responded by saying that it would be consistent with the past for employers and payroll providers to continue using the 2012 withholding tax tables in 2013, if no new tables are issued by the time they begin processing 2013 payroll.
However, the IRS reiterated that it was hopeful that it would receive guidance on how to compute 2013 withholding soon.