January 12, 2018
The Tax Cuts and Jobs Act was signed into law on December 22, 2017, and became effective January 1, 2018. This legislation calls for the establishment of new tax tables for Federal income tax withholding. The IRS has only recently released these tables, so railroad retirement benefit payments issued beginning January 2, 2018, did not reflect the new tax withholding rates. The Railroad Retirement Board will make the necessary adjustments to annuitants’ tax withholding amounts as soon as the new tax tables are reviewed.