February 13, 2018
NOTE: Each month, narfe magazine publishes a wide range of Questions & Answers from members. Don’t miss an issue. Keep your membership current!
 

Tax Withholding for 2018


QUESTION: How do I determine my annuity tax withholding for 2018 under the new tax law?

ANSWERThe Office of Personnel Management (OPM) usually provides an annuity tax withholding calculator on their website, however that page currently redirects folks to an Internal Revenue Service (IRS) site. The tax withholding calculator on the IRS website also appears to be temporarily unavailable. The IRS will be publishing new information for tax withholding soon, which will include updates to the instructions on all versions of their W-4 forms, including the W-4P that annuitants usually file with OPM. We’ve been told that the IRS hopes to have this information available by the end of February. They will also be updating the IRS Publication 505 for tax withholding information. 

Until these become available, you may want to speak with a local tax accountant or advisor for any information you might want to have regarding how the new tax law would affect your tax withholding from any source of taxable income. Stay tuned for more communications from NARFE on the new tax law as well as any updates to forms, publications and online tools you should be aware of.

National Active and Retired

FEDERAL EMPLOYEES Association

NARFE (National Active and Retired Federal Employees Association) 606 N. Washington St., Alexandria, VA 22314, Phone: (703) 838-7760, Fax: (703) 838-7785.

 

This is the only website that reflects the official opinions and positions of the National Active and Retired Federal Employees Association (NARFE). Opinions and/or positions that appear on any other site bearing NARFE's name or seal are not necessarily those of NARFE. Click here for Privacy Statement.   NARFE has been certified by Dun & Bradstreet.

February 13, 2018
NOTE: Each month, narfe magazine publishes a wide range of Questions & Answers from members. Don’t miss an issue. Keep your membership current!
 

Tax Withholding for 2018


QUESTION: How do I determine my annuity tax withholding for 2018 under the new tax law?

ANSWERThe Office of Personnel Management (OPM) usually provides an annuity tax withholding calculator on their website, however that page currently redirects folks to an Internal Revenue Service (IRS) site. The tax withholding calculator on the IRS website also appears to be temporarily unavailable. The IRS will be publishing new information for tax withholding soon, which will include updates to the instructions on all versions of their W-4 forms, including the W-4P that annuitants usually file with OPM. We’ve been told that the IRS hopes to have this information available by the end of February. They will also be updating the IRS Publication 505 for tax withholding information. 

Until these become available, you may want to speak with a local tax accountant or advisor for any information you might want to have regarding how the new tax law would affect your tax withholding from any source of taxable income. Stay tuned for more communications from NARFE on the new tax law as well as any updates to forms, publications and online tools you should be aware of.

National Active and Retired

FEDERAL EMPLOYEES
Association



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NARFE (National Active and Retired Federal Employees Association) 606 N. Washington St., Alexandria, VA 22314, Phone: (703) 838-7760, Fax: (703) 838-7785.

 

This is the only website that reflects the official opinions and positions of the National Active and Retired Federal Employees Association (NARFE). Opinions and/or positions that appear on any other site bearing NARFE's name or seal are not necessarily those of NARFE. Click here for Privacy Statement.   NARFE has been certified by Dun & Bradstreet.