IRS Encouraging “Paycheck Checkup”

The Tax Cuts and Job Act changed the way tax is calculated and the IRS is encouraging several key groups of taxpayers to perform a “paycheck checkup”. People in households with two or more jobs, who have children or dependents, who itemize their taxes, or who have high incomes or complex tax situations, are encouraged to take a few minutes and review their withholding and tax situation. Taking this step will help avoid surprises next year at tax time.

For help calculating your estimated 2018 withholding, you may use a free Withholding Calculator found on the IRS website along with some FAQ’s about performing this review.