Payroll News

IRS Releases Advance Copies of 2009 Withholding Tables and EIC tables.

The tables are effective for wages paid in 2009. The withholding allowance amount has increased for 2009 up to $3650. The IRS has also issued the percentage method tables for determining advance earned income credit amounts. The wage-bracket tables for withheld federal income tax and the advance earned income credit will be included in IRS Publication 15, Circular E, Employer’s Tax Guide.

Filed under: Federal News