| Retired Professional Fire Fighters of Wisconsin |
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News from: http://etf.wi.gov/
Department of Employee Trust Funds June 15, 2009 New Tax Table The Internal Revenue Service (IRS) has published an additional federal tax withholding table for pension income. The new table will go into effect on July 1, 2009. The new tax table change will result in a slightly higher monthly tax withholding for many annuitants. This increase is roughly equivalent to the amount that the monthly tax withholding decreased when the last IRS tax table change was implemented on May 1, 2009. Therefore, retired Wisconsin Retirement System (WRS) participants, especially those who increased their federal tax withholding earlier this year (due to new tax tables that went into effect May 1) should now evaluate their expected annual withholding for 2009 and consider whether they should reduce withholding for the remainder of the year. Annuitants whose monthly tax withholding will change as a result of this additional IRS tax table will receive an Annuity Payment Statement from the Department of Employee Trust Funds (ETF) during the last week in June. If you want to change your state or federal income tax withholding amounts, complete and mail to ETF a new Income Tax Withholding Election form (ET-4310). Or, call or e-mail ETF to request a paper copy. Use our Toll-Free Self-Service Line, 1-877-383-1888 or (608) 266-2323. Send an e-mail through the "Contact ETF" section of our Internet site. |
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