The Internal Revenue Service and the Treasury Department issued proposed regulations Wednesday to update the income tax withholding rules for periodic retirement and annuity payments made after Dec. 31, 2020. IRS proposes new rules for retirement and annuity payments | By Michael Cohn 2 min read | The Internal Revenue Service and the Treasury Department issued proposed regulations Wednesday to update the income tax withholding rules for periodic retirement and annuity payments made after Dec. 31, 2020. | | |