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 MO 3NR Partnership or S Corporation Withholding Exemption or Revocation Agreement 2023

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The 2018 federal tax reform bill also known as the tax cuts and Jobs Act made significant changes to our individual income tax. As a result, the Missouri Department of Revenue has updated and simplified the Missouri w-4 form. You will notice there are no longer spaces for you to input the number of your allowances on this new w-4. This means that employees can no longer increase or decrease the amount withheld from their paychecks by claiming allowances that are not consistent with their specific filing situation. Now it is even simpler To increase the amount withheld from your paycheck, input a number into line two of your W-4. To decrease the amount withheld, input a number on to line three. The key to withholding the preferred amount of tax is to update your w-4 forms regularly. Do this at the beginning of every year and whenever you have a major personal life change. In order to avoid an unexpected tax bill or a huge tax refund, You'll need to adjust your withholdings ingly

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