Pensions and Annuity WithholdingInternal Revenue Service IRS Gov Form

Instructions and help about Pensions And Annuity WithholdingInternal Revenue Service IRS gov

internal revenue service irs tax news irs provides final regulations on income tax withholding on certain periodic retirement and annuity payments ir 2020-223 september 28 2020 washington the u.s department of treasury and internal revenue service today issued final regulations there's a link to those final regulations here updating the federal income tax withholding rules for certain periodic retirement annuity payments made after december 31st 2020 prior to the tax cut and jobs act the tcja if no withholding certificate was in effect for a taxpayer's periodic payments the amount to be withheld from the payments was determined by treating the taxpayer as a married individual claiming three withholding exemption the tcja amended this rule to provide that the rate of withholding on periodic payments when no withholding certificate is in effect the default rate of withholding would instead be determined under the rules prescribed by the secretary of the treasury so they got you know the