News release effective January 23, 2018
Your 2017 W-2’s have been printed and mailed to your address on file. Employees who do not receive their W-2 by Wednesday January 31st should notify Central Payroll immediately using 410-260-7964 and request a duplicate copy. POSC has been updated with 2017 W-2 information and may be used (with proper authorization) to print a re-issued version of your W-2.
Duplicate 2017 W-2’s
Employees may request re-issued W-2’s to be PRINTED BY Central Payroll (not from POSC). Your requests will be accepted beginning on Thursday February 1st , 2018. Please use the following number for these requests 410-260-7964.
New 2018 Federal Tax Tables
The new Federal Tax tables have been received and implemented. Employees can expect changes in their Federal Tax withholding effective with the Regular (RG) pay date of 01/24/2018. University of Maryland (UM) will be processed with the new Federal tax rates starting with their pay date of 1/26/2018. Contractual (CT) employees will be processed with the new Federal Tax rates starting with their pay date of 1/31/2018.
2018 W-4 Form
The IRS has not released the new revised W-4 form. It is anticipated that employers will receive the new form by the end of February 2018. In the meantime, employees should continue using the 2017 W-4 form, just make sure you sign and date it using a ‘2018 date’.
Central payroll will update our W-4/MW507 (MD), W-4/D-4 (DC), and the W-4/WV/IT-104 WV) withholding forms as soon as the IRS releases the new 2018 W-4.
Employees are encouraged to watch for and review the new withholding forms and their instructions. Where necessary employees should re-submit their withholding choices based on the use of the new 2018 form.
2018 Maryland County (piggyback) Taxes
Only (1) county changed their 2018 local withholding rate:
Cecil County - was raised from 2.80% (2017 rate) to 3.00% (2018 rate)
For more details on Maryland’s withholding laws, please reference the ‘Maryland Employer Withholding Guide’.
2018 Federal Tax & Withholding
The annual Federal withholding allowance is $4,150.
- The 2018 employee social security withholding tax rate remains at 6.2%.
- The wage base for the calculation of social security taxes was raised to $128,400.
- The 2018 wage base for Medicare remains the same at 1.45% for employees earning from $1 - $200,000 and 2.35% for those employees earning over $200,000.
For additional Federal information on taxing and withholding, reference the 2018 IRS Publication 15, (Circular E) Employer's Tax Guide, on the IRS website (when available).
Robert Murphy, Director