Employees can check UAB’s updated pay calculator to see potential increases in pay due to updates to the federal tax tables, which may result in increases in standard deductions, repeals of personal exemptions and changes in tax rates and tax brackets.
The Internal Revenue Service released the new withholding tables on Feb. 1, and they are scheduled to take affect at UAB Feb. 9, a biweekly payroll date for nonexempt employees.To determine if net pay will increase under the new U.S. tax laws, employees can enter their earnings, excess insurance and other imputed earnings along with their pay frequency into the updated net pay calculator at uab.edu/payroll.
The withholding tables are designed to work with the W-4 forms employees have already filed at UAB, the IRS said in a news release, and “will minimize burden on taxpayers and employers.”
UAB employees can get a copy of their most recent payslip and adjust their federal income tax withholdings through the Self Service Application in Oracle Administrative Systems.
