Time & Pay Implements 2018 Payroll Withholding Tax Rates?

On Dec 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act that will, as determined by the Tax Policy Center, cut income taxes for 143 million Americans. The law went into effect January 1, 2018.

Calculator with rolls of calculations from payroll showing the time and money paperless payroll can save

On Jan 11, 2018 the IRS released the new tax tables for employers based on this new law. Today, Time & Pay is announcing we have updated our systems and all payrolls processed will now be calculated using the new rate tables. Many of your employees should see an increase in their net pay on the next payroll processed.
The IRS also stated that while they are working on a new W-4 that will reflect the new tax law, the current 2017 form will be just fine to use for the year. Once the new form is issued, employees who wish to make adjustments to their witholding more in line with the new rates can submit a 2108 form to their employer.
About Time & Pay:

Time & Pay is a professional payroll service provider located in Johnson City, TN. We service businesses of all sizes and types throughout the United States. Founded in 1992, Time & Pay provides businesses with complete payroll services , guaranteed payroll tax compliance, automated time and attendance systems and services, pay-as-you-go worker’s comphuman resource management systems and services, ACA compliance and more. We provide our customers with the cost effective tools you need to better manage your payroll, your employees and your business. Time & Pay’s services guarantee you will save money, time and aggravation and we back them up with the customer service you expect and deserve. Contact Us today to learn why business owners throughout the country are saying:

“Time & Pay! Why would you do payroll and timekeeping any other way?”

Offices:
Payroll Services  in Kingsport, TNBristol, TNJohnson City, TN;   423-854-9042
Payroll Services in  Morristown, Greenville, Knoxville, TN  865-640-5666
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