IMPORTANT  TAX INFORMATION

**A common error made during completion of W-4 forms is writing  "EXEMPT" on your allowance certificate in addition to claiming exemptions.  By writing exempt on the W-4 you are stating that you are exempt from withholding tax and no taxes will be withheld.  Please do not enter allowances if you are exempt from withholding taxes.  

The state of Missouri has two tax tables for married employees.  One table is for employees who are married and spouse works. 

If your spouse does not work and you wish to take advantage of the higher standard deduction used in the withholding formula, a new form W-4 will need to be filled out and returned to payroll.  The standard deduction for “married spouse works” is $3,975.00.   The standard deduction for “married spouse does not work” is $7,950.00.  

If you do not wish to make any changes please disregard this memo.  If you are unsure about what your deductions and allowances should be for your particular situation please consult your tax professional.  

   To turn in a new form click the web site, print the form, sign and date, and mail the form to the payroll department or you may drop off this form anytime at the payroll office between 8:00 A.M. and 5:00 P.M.

For assistance in filling out W-4 forms go to paycheckcity.com   

                  The Internal Revenue Service has released a revised Notice 1036, Early Release Copies of New Income Tax Withholding Tables, with new wage-bracket and percentage-method withholding tables that are effective for wages paid through December 31, 2004. The tables incorporate reduced income tax rates under the Jobs and Growth Tax Relief Reconciliation Act of 2003, which was signed into law on May 28. 

The revised notice is available for download at http://www.irs.gov/pub/irs-pdf/n1036.pdf
 

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