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Within Hours of Release, Paychex Updates HCM Platform to Reflect New 2018 Withholding TablesROCHESTER, N.Y., Jan. 12, 2018 /PRNewswire/ -- With the Internal Revenue Service (IRS) releasing updated tax withholding tables for 2018 on Thursday afternoon in response to the Tax Cuts and Jobs Act, Paychex, Inc., a leading provider of human capital management (HCM) solutions for payroll, HR, retirement, and insurance services, announced it had updated its HCM platform, Paychex Flex®, by the start of business Friday morning to reflect the new withholding rates. "The updated tables are now here and for Paychex Flex clients submitting payroll today, those payrolls will be processed using the new withholdings," said Martin Mucci, president and CEO of Paychex. "We're proud of the leadership role we've taken in the payroll industry to be among the first to implement these changes, and we look forward to measuring the impact of take-home pay changes as part of our ongoing Small Business Employment Watch research." Updated 2018 IRS Withholding Guidance How Paychex Can Help In addition, Paychex can help businesses implement the provisions of tax reform with comprehensive solutions for managing payroll tax obligations. Visit www.paychex.com for more information. Note: The information contained within is not tax or legal advice. These issues are complex and applicability depends on individual circumstances. Businesses should consult tax or legal counsel before taking action on any of the items identified above. About Paychex Media Contacts View original content with multimedia:http://www.prnewswire.com/news-releases/within-hours-of-release-paychex-updates-hcm-platform-to-reflect-new-2018-withholding-tables-300582161.html SOURCE Paychex, Inc. |