Ohio accounting reiterates revisions to form W-4 in public service announcement.
Mentor, OH -- (SBWIRE) -- 10/25/2018 -- Ohio accounting firm Rea & Associates recently shared an announcement regarding the proposed major revisions to Form W-4. According to the company, these revisions will be postponed until 2020.The company shared that the IRS made the decision to postpone these changes in late September and the firm moved quickly to get the information out to clients and friends of the firm.
Rea & Associates went on to share that the reason for the postponement was that the IRS received significant feedback from tax and payroll professionals. According to Rea & Associates, the IRS determined that delaying the W-4 revisions would give employers more time to prepare for the implementation of the proposed changes. Rea & Associates also stated that many employers indicated that they wanted more time to prepare for these complex changes. The company did confirm that the IRS will be releasing the 2019 W-4 form in a period of a few weeks.
Rea & Associates went on to explain how this decision affects the average employer and employee. According to the company, the postponement of these changes means that the 2017 Form W-4 can still be used through 2018. Additionally, Rea & Associates mentioned that employees should be encouraged to review their payroll documents in order to verify that they have the correct amount withheld for the year 2018. Rea & Associates said that the company's tax specialists are able to answer questions regarding the postponement of these changes to form W-4. Further details can also be found at https://www.reacpa.com/insight/major-form-w-4-revisions-postponed-until-2020/.
Rea & Associates wrapped up its announcement by sharing some company information. Rea & Associates has been around for 80 years, having been founded in 1938. Today, the company employs more than 300 financial professionals and operates offices throughout Ohio. Rea & Associates offers accounting, tax, and audit services to a variety of clients in a wide variety of industries. The accounting firm ca also be seen at https://www.agreatertown.com/mentor_oh/rea_associates_0003081949.
Rea & Associates
7201 Center Street
Mentor, OH 44060
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