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IRS Changes Income Tax Withholding Tables for 2013 to Reflect Expired Tax Cuts

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The Internal Revenue Service released new income tax withholding tables for 2013 late Monday to reflect the expiration of the 2001 and 2003 Bush tax cuts and the more recent payroll tax cuts of 2011 and 2012, but noted that the guidance would be modified if Congress acts. (Note: Since this story was written, fiscal cliff legislation was, in fact, passed, and the IRS updated the income tax withholding tables again; see "IRS Updates Withholding Guidance for 2013.")

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