{"id":950,"date":"2009-05-19T11:08:34","date_gmt":"2009-05-19T15:08:34","guid":{"rendered":"https:\/\/old.visionpayroll.com\/kb\/?p=950"},"modified":"2009-05-19T11:08:34","modified_gmt":"2009-05-19T15:08:34","slug":"irs-releases-withholding-adjustment-procedures-for-pension-plans","status":"publish","type":"post","link":"https:\/\/old.visionpayroll.com\/kb\/2009\/05\/irs-releases-withholding-adjustment-procedures-for-pension-plans\/","title":{"rendered":"IRS Releases Withholding Adjustment Procedures for Pension Plans"},"content":{"rendered":"

In IR-2009-050, the Internal Revenue Service (IRS)<\/a> has announced the\u00a0release of Notice 1036-P, Additional Withholding for Pensions for 2009<\/em><\/a>, in order to help some pensioners avoid a smaller refund or a balance due when filing their 2009 Form 1040.<\/span><\/p>\n

Although using the new tables is not required, recipients from plans that adopt the new tables will not need to take\u00a0any further action to have their withholding adjusted. The IRS<\/a> is encouraging pension payors who choose to use the new withholding tables to notify pension recipients who requested additional withholding on Form W4-P, Withholding Certificate for Pension or Annuity Payments<\/em><\/a>, after the February tables were released.<\/span><\/p>\n

The IRS<\/a> is recommending certain types of taxpayers should consider filing revised forms, especially if they use the IRS<\/a> withholding calculator and determine that their withholding may be insufficient. Those types of taxpayers include the following:<\/span><\/p>\n