[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-304159-105":53,"doc-detail-304159-en":126},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":119,"head_meta":121,"extra_data":123,"updated_unix":125},105,"en","faqs-regarding-new-irs-withholding-forms-w-4p-and-w-4r","FAQs Regarding New IRS Withholding Forms W-4P and W-4R","","IRS introduced revised Form W-4P and a new Form W-4R to update federal income tax withholding election options and the Fund’s calculation method for withholding from benefit payments. Effective January 1, 2023, W-4P no longer supports withholding a flat amount and instead uses inputs for increasing or decreasing withholding, including tax credits and deductions. Annuitants already receiving ongoing payments started before 2023 are not required to file a new form if they do not change elections. The document explains how annuity, non-periodic, rollover, and default 20% rules work, and what happens if forms are not submitted or filing status is updated.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/faqs-regarding-new-irs-withholding-forms-w-4p-and-w-4r/304159/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/faqs-regarding-new-irs-withholding-forms-w-4p-and-w-4r/304159.png","ImageObject",442,249,{"name":88,"@type":89},"Paura","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-02","2026-09-19",true,{"@type":98,"interactionType":99,"userInteractionCount":76},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"Why is the Fund changing its withholding form?","Question",{"text":108,"@type":109},"The Tax Cuts and Jobs Act of 2017 changed how income tax is calculated, including increased standard deduction and removal of the dependent exemption. Withholding procedures had to change accordingly, and federal law requires the Fund to implement the new IRS withholding forms starting January 1, 2023.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"How is withholding calculated for annuities using the new form?",{"text":113,"@type":109},"Previously, periodic non-rollover withholding relied on flat amounts specified by annuitants. Under the new method, the calculation incorporates filing status (married, single, or head of household) and fields adjusting withholding using other income, deductions, and tax credits to better approximate tax due at year-end.",{"name":115,"@type":106,"acceptedAnswer":116},"Am I required to file a new withholding election form if I don’t plan to change my elections?",{"text":117,"@type":109},"No, if you are receiving ongoing benefits and do not wish to change your withholding elections, you are not required to submit a new election form. The Fund continues withholding based on the election currently on file.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},304159,1790514860,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":76,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":76,"language":135,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":61,"update_tm":139,"read_time":9},13056712833777,"https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0","FAQs Regarding New IRS Withholding Forms W-4P and W-4R  \nThe IRS released a revised Form W-4P (Withholding Certificate for Periodic Pension or Annuity Payments) and a new Form W-4R (Withholding Certificate for Nonperiodic Payments and Eligible Rollover Distributions) that include changes to the federal tax withholding elections available, as well as changes to the calculation the Austin Firefighters Retirement Fund (the “Fund”) performs to determine the amount to be withheld from the Fund’s benefit payments. These forms became effective as of January 1, 2023.  \nA significant change to the W-4P form is that filers will no longer be able to withhold a flat amount. The IRS now offers new input fields for increasing or decreasing the amount to withhold, including fields for tax credits and deductions.  \nIMPORTANT NOTE: Annuitants who already receive ongoing payments that began prior to 2023 and who do not wish to make changes to their federal tax withholding elections are not required to file a new form.  \n1. Why is the Fund changing its withholding form?  \nThe federal Tax Cuts and Jobs Act of 2017 changed the way income tax is calculated, including an increased standard deduction and removal of the dependent exemption. Because withholding allowances previously were tied to the dependent exemption, the IRS changed its procedures for calculating federal income tax withholding following removal of the dependent exemption.  \nThe Fund is required by federal law to implement the new, IRS-issued withholding forms beginning on January 1, 2023.  \n2. How is withholding calculated for annuities using the new form?  \nPreviously, federal tax withholding for non-rollover eligible periodic payments were based on flat amounts specified by annuitants. The new calculation allows the filing status (married, single, or head of household) and fields for adjusting the amount to be withheld by incorporating other income, deductions, and tax credits into the calculation.  \nWhile the new form and calculation are more complex, they are intended to approximate the amount of tax due more accurately at the end of the year when completed correctly.  \n3. How is withholding calculated for non-periodic (lump-sum) and rollover eligible periodic payments using the new form?  \nThe default federal tax withholding for these payments is not changing. As in previous years , default federal tax withholding is 20% for all rollover eligible payments, whether periodic or non-periodic (withholding mandatory) . However, annuitants who choose a withholding rate greater than 20% are required to complete a new Form W-4R to designate a specific percentage.  \n4. Am I required to file a new tax withholding election form even if I do not intend to change my tax withholding elections?  \nNo, if you are receiving ongoing benefits and you do not wish to change your withholding elections, you are not required to submit a new tax withholding election form. The Fund will continue to withhold federal income tax from your benefit payments based on the election we have on file.  \nIf you elect to receive a distribution from your DROP account (a non-periodic payment), the default withholding will apply. However, if you wish to change your withholding election to a percentage greater than 20% for a non-rollover DROP payment, you should submit a new IRS Form W-4R.  \n5. What happens if I don’t submit an IRS Form W-4P?  \n•  For new monthly payments (benefits starting January 1, 2023, or later) : If you do not complete and return the Form W-4P, the Fund will withhold federal income tax from your monthly payments as if your filing status is single with no adjustments. Also, if the Form W-4P that you submit does not have your SSN or has an incorrect SSN, the Fund will withhold federal income tax from your monthly payments as if your filing status is single with no adjustments. If the Form W-4P you submit is incomplete or unclear, it may be necessary for the Fund to withhold federal income tax from yo","cbCaiiAhbIlG7rfp","https://ap.wps.com/l/cbCaiiAhbIlG7rfp","pdf",145400,"English","# FAQs Regarding New IRS Withholding Forms W-4P and W-4R\n## Why the Fund is changing its withholding form?\n## How withholding is calculated under the new W-4P\n## How withholding is calculated for non-periodic and rollover payments under W-4R\n## Whether a new election form is required without changes\n## What happens if a Form W-4P is not submitted","[{\"question\":\"Why is the Fund changing its withholding form?\",\"answer\":\"The Tax Cuts and Jobs Act of 2017 changed how income tax is calculated, including increased standard deduction and removal of the dependent exemption. Withholding procedures had to change accordingly, and federal law requires the Fund to implement the new IRS withholding forms starting January 1, 2023.\"},{\"question\":\"How is withholding calculated for annuities using the new form?\",\"answer\":\"Previously, periodic non-rollover withholding relied on flat amounts specified by annuitants. Under the new method, the calculation incorporates filing status (married, single, or head of household) and fields adjusting withholding using other income, deductions, and tax credits to better approximate tax due at year-end.\"},{\"question\":\"Am I required to file a new withholding election form if I don’t plan to change my elections?\",\"answer\":\"No, if you are receiving ongoing benefits and do not wish to change your withholding elections, you are not required to submit a new election form. The Fund continues withholding based on the election currently on file.\"}]","FAQs Regarding New IRS Withholding Forms W-4P and W-4R | PDF",1789810681]