January Tax Updates

IRS Extends ACA Due Date

Forms 1095b/c now due to Individuals by March 2, 2018 The IRS announced on Dec. 22, 2017 that it has extended the 2018 due date for certain entities to provide 2017 health coverage information forms to individuals from January 31, 2018 to March 2, 2018. (IR-2017-209)

Impact of H.R. 1 Tax Law
Current Forms W-4 are Valid “The IRS is working to develop withholding guidance to implement the tax reform bill signed into law on December 22. We anticipate issuing the initial withholding guidance in January, and employers and payroll service providers will be encouraged to implement the changes in February. The IRS emphasizes this information will be designed to work with the existing Forms W-4 that employees have already filed, and no further action by taxpayers is needed at this time.” https://www.irs.gov/newsroom/irs-statement-withholding-for-2018
State Withholding Tax

Impact of Tax Law H.R. 1

Anticipate State Withholding updates if States prepare to copy the Federal Government and the IRS.

North Dakota Delays Release of Withholding Updates for 2018 Effective Jan. 1, 2018, North Dakota’s 2017 Income Tax Tables will remain in effect.

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