IRS Reminds Taxpayers to Adjust Tax Withholding

Melissa Clary Uncategorized 0 Comments

This is a good time of year to review your payroll withholding to make sure you are on track with regards to your 2019 income taxes and having the correct amount withheld or paid in with estimated payments.  A Paycheck Checkup using the IRS Withholding Calculator can help taxpayers determine the right amount of tax they should have their employer withhold from their paychecks.  Taxes are pay-as-you-go. This means taxes must be paid as income is earned or received during the year, either through withholding or estimated tax payments. Checking and adjusting tax withholding as early as possible is the best way to avoid having too little or too much tax withheld from paychecks. Too little withheld could result in an unexpected tax bill or penalty at tax time next year.  Below is the link to the withholding calculator; https://apps.irs.gov/app/withholdingcalculator/ Visit IRS.gov/payments to schedule electronic payments online, by phone or via the IRS2go mobile app.

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