DRS: Payroll Processing Software Limitations May Impact Income Tax Withholding

Posted on August 11, 2011. Filed under: Uncategorized |

Just wanted to make sure you were all aware of this DRS news release.

In the wake of the Aug. 1 implementation of the new income tax withholding tables, the DRS has found that payroll processing software limitations may cause issues for certain taxpayers.

Specifically, according to DRS Commissioner Kevin Sullivan, “the problem affects taxpayers who have requested on Form CT-W4 that additional income tax be withheld from their paychecks.”

The DRS is making every effort to ensure that affected taxpayers can protect themselves from the risk of underpayment and the ensuing penalties and interest, including releasing now the 2011 Estimated Income Tax Worksheet and updated 2011 Income Tax Calculation Schedule.

Read the full release.

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