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Late Breaking News

2012 Federal Percentage Method Withholding Tables are released

   The Internal Revenue Service has posted an early release copy of the 2012 percentage method tables for income tax withholding. The amount of one withholding allowance for 2012 increases to $3,800.

   Starting in January 1, 2012, the IRS stated, Employer must implement the revised federal withholding tables and percentage method tables for wages and compensation paid to employees.

  Below is a chart listing the 2012 withholding allowance amounts to be used when calculating withholding using the percentage method, announced by the Internal Revenue Service for One (1) withholding allowance:

Weekly= $73.08
Bi-Weekly= $146.15
Semi-Monthly $158.33
Monthly= $316.67
Quarterly= $950.00
Semi-Annually= $3,800.00
Daily or Miscellaneous(Each Day of the payroll period)= $14.62

   Special instructions are also included in the notice for withholding on wages earned by non-resident aliens.

This blog was adapted by the Bureau of National Affairs-Late Breaking News www.bna.com

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One thought on “2012 Federal Percentage Method Withholding Tables are released

  1. Good post. I learn something totally new and challenging on sites I stumbleupon everyday.
    It’s always interesting to read through articles from other writers and use something from other web sites.

    Posted by JJ Usher | 06/15/2013, 9:04 AM

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