IRS Provides Additional Guidance for Substitute and Telephonic Forms W-4P and W-4R

The IRS has posted additional guidance to address outstanding questions relating to the requirements for electronic and paper substitute forms for Forms W-4P, Withholding Certificate for Nonperiodic Payments and Eligible Rollover Distributions, and W-4R, Withholding Certificate for Nonperiodic Payments and Eligible Rollover Distributions along with telephonic submissions, which are required to be used for federal income tax withholding on retirement plan and IRA payments effective January 1, 2023.

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