In late November, the IRS released a worksheet containing the tax tables that will be included in the 2024 Publication 15-T, Federal Income Tax Withholding Methods. Although a full draft of Publication 15-T is not available yet, the IRS released data for the percentage method and wage bracket method tables.
On the December 7 payroll industry call, the IRS confirmed that the early release table data could be used to update payroll systems.
To access the tables, download and save the DF to the computer desktop. Click on Attachments in the saved PDF to open the Excel file, which can be saved separately.
To learn more about federal and state laws, regulations, and information to keep your company's payroll operations in compliance, check out Payroll Source Plus!
Jyme Mariani, Esq., is Managing Editor of Payroll Currently and Senior Manager of Payroll Information Resources for PayrollOrg.