The IRS is working to develop withholding guidance to implement the tax reform bill signed into law on December 22. We expect Workday to deliver the new guidance and tax tables as soon as they are made available by the IRS. The IRS encourages employers to implement the changes in February, emphasizes that this information will be designed to work with the existing Form W-4 that employees have already filed, and affirms that no further action by taxpayers is needed at this time. Use of the new 2018 withholding guidelines will allow taxpayers to begin seeing the changes in their paychecks as early as February. In the meantime, employers should continue to use the existing 2017 withholding tables and systems.
As soon as Workday loads the new tax tables, we will update this notice with new information.