76°F
weather icon Clear

IRS updates withholding calculator

The Internal Revenue Service is releasing an updated Withholding Calculator on IRS.gov and a new version of Form W-4 to help taxpayers check their 2018 tax withholding following passage of the Tax Cuts and Jobs Act in December.

The IRS urges taxpayers to use these tools to make sure they have the right amount of tax taken out of their paychecks.

“Following the major changes in the tax law, the IRS encourages employees to check their paychecks to help ensure they’re having the right amount of tax withheld for their personal situation,” Acting IRS Commissioner David Kautter said in a Feb. 28 statement.

The Tax Cuts and Jobs Act made changes to the tax law, including increasing the standard deduction, removing personal exemptions, increasing the child tax credit, limiting or discontinuing certain deductions and changing the tax rates and brackets.

If changes to withholding should be made, the Withholding Calculator gives employees the information they need to fill out a new Form W-4, Employee’s Withholding Allowance Certificate.

Employees will submit the completed W-4 to their employer.

Don't miss the big stories. Like us on Facebook.
THE LATEST
Obese pig abandoned in cage on Las Vegas street is on the mend

The severely overweight potbellied pig, which rescuers named “Cupcake,” was found June 2 in a wire dog kennel by a resident on the sidewalk outside his home.

Nye County unemployment falls in May

Unemployment rates in Nevada continued to fall in May, according to data released by the Department of Employment, Training and Rehabilitation on Tuesday.

Apprenticeship programs get $130 million in federal grants

The U.S. Department of Labor on Tuesday announced the award of more than $130 million in grants to develop, modernize and diversify Registered Apprenticeship programs in 15 states and to establish Registered Apprenticeship Technical Assistance Centers of Excellence in three states and the District of Columbia to provide technical expertise and services and accelerate the expansion of Registered Apprenticeship programs.

State initiative launched to aid birthing hospitals

The Maternal, Child and Adolescent Health Section of the Nevada Division of Public and Behavioral Health on Wednesday announced the kickoff of the Nevada Alliance for Innovation in Maternal Health, one of many statewide efforts to end preventable maternal mortality and severe maternal morbidity and comes on the heels of numerous legislative efforts to improve birth outcomes in Nevada.

GOED division assisted 39 Nevada companies

The Governor’s Office of Economic Development International Trade Division used its U.S. Small Business Administration State Trade Expansion Program grant to help 39 Nevada companies during the past year.

StartUpNV lauds new law to encourage investment

StartUpNV, a nonprofit statewide incubator and accelerator for Nevada-based startup companies, staunchly supported the passage of SB9 to modernize Nevada’s private investment laws that were burdensome, confusing and an impediment to enticing investment in local startup companies.

Las Vegas tourism industry expected to surge back from pandemic plunge

UNLV’s Center for Business and Economic Research predicts that visitor volume in Southern Nevada will climb 57 percent this year and 13.2 percent next year, following its 55.2 percent drop in 2020.