b'ITEMS TO SHARE WITH YOUR EMPLOYEESIRSWAIVES PENALTY for many whose tax withholding and estimated tax payments fell short in 2018AD HEREThe Internal Revenue Service announced that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the yearThe IRS is generally waiving the penalty for any(TCJA), the far-reaching tax reform law enacted in taxpayer who paid at least 85 percent of their totalDecember 2017. tax liability during the year through federal incomeWe realize there were many changes that affected tax withholding, quarterly estimated tax paymentspeople last year, and this penalty waiver will help or a combination of the two. The usual percentagetaxpayers who inadvertently didnt have enough threshold is 90 percent to avoid a penalty. tax withheld, said IRS Commissioner Chuck The waiver computation announced today will beRettig. We urge people to check their withholding integrated into commercially-available tax softwareagain this year to make sure they are having the and reflected in the forthcoming revision of Formright amount of tax withheld for 2019.2210 and instructions. The updated federal tax withholding tables, This relief is designed to help taxpayers whoreleased in early 2018, largely reflected the lower were unable to properly adjust their withholdingtax rates and the increased standard deduction and estimated tax payments to reflect an arraybrought about by the new law. This generally of changes under the Tax Cuts and Jobs Actmeant taxpayers had less tax withheld in 2018 and 22 www.mrca.orgMidwest Roofer'