Taxpayers Should do an End-of-Year Withholding Check-up
With the end of the year just a few days away, taxpayers should be sure to take a close look at their withholdings. Making sure they had the right amount of exemptions should help them to avoid an unexpected tax bill next year.
Here are just five examples of taxpayers Who’d benefit from a paychecks checkup:
To be sure their company withholds the ideal amount of tax, workers can make corrections their Form W-4, Employee’s Withholding Allowance Certificate. Oftentimes, that is all they should do. The organization uses the form to determine the total amount of federal income tax to be deducted. This requires time, so taxpayers must make adjustments as soon as possible.
The IRS has many resources which help taxpayers determine whether they’re having the ideal quantity of tax withheld from their pay.