The IRS is implementing some changes to tax withholding forms in 2023 that could affect retirees who receive benefit payments from plans like the Public Employees' Retirement System of Nevada (NVPERS). The IRS is implementing a new W-4P form, which is used to determine tax withholdings for pension and annuity accounts. The new form no longer allows tax filers to adjust their withholdings by electing a specific number of withholding allowances. Instead, the W-4P form has new input fields for increasing or decreasing the amount of withholding, including fields for tax credits and deductions. If you are retired and have already completed a tax withholding election, you are not required to complete the new W-4P form at this time. However, if you are a current retiree, you have every right to make changes to your tax withholding, but after December 16, 2022 you will be required to do so using the new W-4P form. Please note that NVPERS cannot provide tax advice, including advice about how to complete these forms. If you have questions about your particular situation, please contact a tax or legal advisor. For more information on the W-4P form, visit https://www.irs.gov/forms-pubs/about-form-w-4-p