Happy New Year from the Employment Services Team!

As you may be aware, a new tax code was signed into law on December 22, 2017.  Some tax experts are calling this the most significant tax code change in 30 years.  The IRS is currently working on updating the federal withholding guidelines as stipulated by the new tax code.  They have directed us to continue using the 2017 guidelines for calculating federal withholding when processing the January paycheck.  We hope that the updated guidelines will be available for processing payroll in February.  

You will not be required to submit a new W4, but we understand that you may want to update your exemptions.  For this reason, we are extending the deadline for submitted W4's to January 31 for the February paycheck and February 28 for the March paycheck. 

Many missionaries may be wondering how their taxes will be affected considering potential raises effective January 1 as well as the new tax code.  Reliant will not be able to provide specific answers about tax implications until after the February 15 paycheck has been processed.  

Please be aware that Reliant can only assist to educate you on the use of tax forms.  We cannot advise you on your individual tax situation.  Please contact a tax professional if you would like more information regarding how the tax code changes will impact you.