Tax day is drawing near. While everyone has taxes on their mind, i’s a good time to ensure the right amount of tax is being taken out of your 2018 paycheck for your situation. Tax law changes can be complicated, but IRS is trying to help. Here’s a short video – have a look and see if you think your paycheck withholding is correct.
Additionally, there are tools available on IRS.gov to make sure you don’t have too little or too much tax withheld. “Having too little tax withheld can mean an unexpected tax bill or potentially a penalty at tax time in 2019,” noted the IRS website. “And with the average refund topping $2,800, some tax payers might prefer to have less tax withheld up front and receive more in their paychecks.”
If you need to adjust, you will need to submit a new Form W-4. Doing this sooner rather than later is best. Call on us at 913.888.9100 if we can help. And if you’re feeling overwhelmed with your 2017 file, it’s not too late to get it in on time. We’re ready to step in and help.
