Tax Reform Tax Tip 2019-76: Taxpayers have options for paying the tax they owe throughout the year
Internal Revenue Service (IRS) sent this bulletin at 06/13/2019 11:24 AM EDT
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Issue Number: Tax Reform Tax Tip 2019-76Taxpayers have options for paying the tax they owe throughout the year Taxpayers who need to pay more before tax time have a few different options on how they can do so. First, all employees should make sure their employers are withholding the correct amount of tax from their paychecks. The best way for employees to check their withholding is to use the Withholding Calculator on IRS.gov. They can use the calculator to do a Paycheck Checkup. This lets the employee check to see if their employer is taking enough tax from their paycheck to cover the amount of tax they owe. After using the calculator, if necessary the employee can change the amount of tax their employer takes out of their paycheck. This will help employees avoid an unexpected result at tax time, such as a smaller refund. Here are three ways that taxpayers can adjust their withholding: Changing the withholding allowances on Form W-4. Having an extra flat-dollar amount withheld from each paycheck. Making estimated tax payments throughout the year.
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