As you begin to prepare for the coming year, factor in changes impacting withholding from employees’ wages. As a result, you likely need to change your procedures and make adjustments to your budget for 2020.
Wage Withholding Changes in 2020
Revised Withholding Tables
Due to cost of living adjustments to federal income tax brackets, withholding for all employees change in 2020. State and local income taxes also change for 2020. As a result, they require adjustments to withholding for these tax obligations.
