USPS: Employees urged to do paycheck checkup

USPS and the Internal Revenue Service are encouraging employees to conduct a paycheck checkup to determine whether they need to update their tax withholding for 2020. Updating federal withholding is especially important for employees who had an unexpectedly high tax bill or a penalty this year. Similarly, employees who have had a major life change…

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USPS elects not to implement payroll tax deferrals

The Postal Service is providing employees with information about an optional deferral of payroll taxes for workers. President Donald Trump recently issued a memorandum instructing Treasury Secretary Steven Mnuchin to allow employers to defer the collection of the employee portion of Social Security payroll tax between Sept. 1 and Dec. 31. This would not constitute…

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NALC HQ: Frequently asked IRS questions

NALC Secretary-Treasurer Nicole Rhine addresses a few frequently asked IRS-related questions in her column in The Postal Record. She also encourages branch officers to download a free copy of the NALC Branch Officer’s Guide to Finance and Administration. Frequently asked IRS questions

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USPS to deliver stimulus checks, notices

The Postal Service will deliver the economic impact payments that the federal government is sending to eligible households as part of its response to the coronavirus pandemic. USPS, in its role as an essential service, will accept, process and deliver an estimated 60 million checks from the U.S. Treasury Department. About 5 million to 8…

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USPS: New tax withholding estimator available

The Internal Revenue Service has a new mobile-friendly online tool that makes it easier for workers to ensure the right amount of tax is withheld during the year. The Tax Withholding Estimator replaces the IRS’s Withholding Calculator, which previously provided an online method for checking withholding. The estimator uses a plain language, step-by-step format that…

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USPS: Review withholding to avoid penalties

The Internal Revenue Service (IRS) wants USPS and other employees to review their federal income tax withholding. Several tax law changes took effect last year. By checking your withholding now, you can avoid an unexpected bill or penalty at tax time. The IRS offers an online withholding calculator that can help you determine if you…

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USPS: Employees should review federal withholding

The Internal Revenue Service (IRS) wants USPS and other employees to review their federal income tax withholding. Several tax law changes took effect this year. By checking your withholding now, you can avoid an unexpected bill or penalty at tax time. The IRS offers an online withholding calculator that can help you determine if you…

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USPS: Tax withholding update

USPS wants you to know about recent updates to Form W-4 and the Internal Revenue Service’s online withholding calculator. Last week, the IRS released a new version of Form W-4, Employee’s Withholding Allowance Certificate, which is used to determine an employee’s federal income tax withholding. The IRS didn’t make significant changes to the form itself….

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