IRS Encourages a Paycheck Checkup
Get a Handle on Your 2018 Federal Withholding
With the Tax Cuts and Jobs Act tax law changes going into effect, and this year's tax filing season winding down, the IRS has been encouraging taxpayers to go online and perform a "paycheck checkup" to ensure they have the right amount of tax withholding being taken out of your paycheck. The IRS is providing some helpful tools to aid with that review and the possible filing of a new W-4.
“The IRS is taking special steps to help taxpayers understand these tax law changes," said Acting IRS Commissioner David Kautter. "We encourage people to do a paycheck checkup to help make sure they’re having the right amount of tax withheld for their unique personal situation. To help with this, the IRS has added and updated a variety of tools and information to help taxpayers.”
Click on the below Related Article link for more information and access to the available IRS tools, FAQ's and forms.The Withholding Calculator in particular is an excellent tool to pinpoint your 2018 income and what should claim as your allowances to economize your IRS withholdings. After all ... you don't want to be a lender of your money to the government while you wait for a tax refund. You be your own money manager now, not Uncle Sam ... Hope the remainder of the year is a very prosperous one for you and your family!