On May 31, the IRS released a draft of its new proposed Form W-4. The IRS drafted the new
Form W-4 to enable the Form W-4 to align with the Tax Cuts and Jobs Act of 2017 (“TCJA”).
Many states and cities have taken the initiative to schedule minimum wage increases. For some cities, increases are set to take effect on July 1st on an annual basis.Because some cities have a higher minimum wage rate than the one set by the State or the Federal government, the higher local minimum wage rate takes precedence and must be paid to all employees covered by the local minimum wage regulation.
