Heads Up!

At the close of February, the IRS released an updated tax withholding calculator on IRS.gov and issued a new Form W-4. It is recommended that you review the online calculator to check your 2018 tax withholding following the passage of the Tax Cuts and Jobs Act in December. You can find the IRS Withholding Calculator on the attached announcement or by using the following link: https://www.irs.gov/individuals/irs-withholding-calculator

There are several reasons to check your withholding:

  • Checking your withholding can help protect against having too little tax withheld and facing an unexpected tax bill or penalty at tax time next year.
  • At the same time, with the average refund topping $2,800, you may prefer to have less tax withheld up front and receive more in your paychecks.

If you are an employee, the Withholding Calculator helps you determine whether you need to give your employer a new Form W-4, Employee’s Withholding Allowance Certificate. You can use your results from the Calculator to help fill out the form and adjust your income tax withholding.

And please contact us if you have any questions.

This entry was posted in $1$s. Bookmark the permalink.