IRS Tax Reform Tax Tip 2018-46: Tips for Using the Withholding Calculator
Internal Revenue Service (IRS) sent this bulletin at 03/27/2018 12:01 PM EDT
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Issue Number: Tax Reform Tax Tip 2018-46Tips for Using the Withholding Calculator The IRS recommends that taxpayers use the Withholding Calculator on IRS.gov to do a “paycheck checkup” to check that their employers withhold the correct amount of income tax from their paychecks. The Withholding Calculator can help prevent employees from having too little or too much withheld from their paycheck. Having too little tax withheld can mean an unexpected tax bill or potentially a penalty at tax time in 2019. And with the average refund topping $2,800, some taxpayers might prefer to have less tax withheld up front and receive more in their paychecks. Here are some tips for using the Withholding Calculator. Taxpayers should:
Remember, the Withholding Calculator does not ask the user for personally identifiable information, such as name, social security number, address, or bank account numbers. The IRS does not save or record the information the taxpayer enters in the calculator. For more detailed information, taxpayers should visit IRS.gov. Share this tip on social media -- #IRSTaxTip: Tips for Using the Withholding Calculator https://go.usa.gov/xQaWa Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov. This message was distributed automatically from the IRS Tax Tips mailing list. Please Do Not Reply To This Message. |