IRS Updates Tax Withholding Calculator for 2019: Avoid Year-End Surprises
It is not too late for taxpayers to adjust their 2019 tax withholding and avoid a surprise when their taxes are filed next year. The Internal Revenue Service recently released a new, vastly improved income tax withholding calculator to assist taxpayers in determining the correct payroll tax withholding.
Armed with a recent pay stub and a copy of last year’s tax return, taxpayers can perform a payroll check-up and, if necessary, adjust their payroll tax withholding to avoid an unpleasant surprise come the spring. To change their federal tax withholding, taxpayers will want to complete a new Form W-4 and submit it to their payroll department.