Human Resources reminds employees that the Internal Revenue Service encourages all tax payers to check their current withholdings, by doing a Paycheck Checkup. Taxpayers can use the Federal Tax Withholding Estimator to help identify estimated tax owed for 2019. This will help taxpayers determine, if a withholding change is necessary, for the last quarter of 2019.
As a reminder, the Missouri Department of Revenue made several changes to the way an Employees Withholding amounts are calculated for 2019.
Two major changes for 2019 were:
- All allowances (including self and dependents) have been removed from the Missouri tax withholding tables.
- Missouri taxes will be based on your Filing Status election. Choices are:
- Single or Married Spouse Works or Married Filing Separate —If you elect this option, your Missouri taxes will be coded as Single and taxes will be calculated on the higher Single rate withholding calculation.
- Head of Household
- Married (Spouse does not work) —If you elect this option, your Missouri taxes will be coded as Married and your taxes will be calculated on the lower Married rate withholding calculation.
If your filing status in 2018 was Married, you defaulted into Married (“Spouse does not work) which is the lower withholding calculation for 2019, unless you completed a new MO-W-4 for 2019.
The Missouri Department of Revenue also provides a withholding calculator to assist in tax planning, available at https://mytax.mo.gov/rptp/portal/home/withholding-calculator.
To make changes, at any time, to Federal or Missouri withholdings, complete a new W-4 form, and send to Human Resources, MS3150.
- Federal W-4:https://www.irs.gov/pub/irs-pdf/fw4.pdf
- Missouri W-4:https://dor.mo.gov/forms/MO%20W-4_2019.pdf
For more information, contact Human Resources at (573) 651-2206.