Take the IRS “Paycheck Checkup”

Am I Withholding Enough Taxes for 2018

With 2018 more than halfway over, the Internal Revenue Service urges taxpayers who haven’t performed a “Paycheck Checkup” to take a few minutes now to prevent an unexpected tax bill and penalties next year at tax time. The checkup tool will allow taxpayers to know if they are having the right amount of tax withheld from their pay checks. It can also help taxpayers avoid a large refund if they’d prefer to have their money in their paychecks the rest of this year.

Taxpayers who should check their withholding include those who:

  • Are a two-income family
  • Have two or more jobs at the same time or only work part of the year
  • Claim credits like the Child Tax Credit
  • Have dependents age 17 or older
  • Itemized deductions in 2017
  • Have high income or a complex tax return
  • Had a large tax refund or tax bill for 2017

Click Here to perform the IRS “Paycheck Checkup.”

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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