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IRS Offers Final Regs for Tax Withholding for Retirement and Annuity Payments
The U.S. Department of the Treasury and the Internal Revenue Service have issued final regulations updating the federal income tax withholding rules for certain periodic retirement and annuity payments made after Dec. 31, 2020. Prior to the Tax Cuts and Jobs Act (TCJA), if no withholding certificate was in effect for a taxpayer’s periodic payments, […]