July 24, 2018
Have you done a Paycheck Checkup?
The IRS is encouraging all workers to preform a “Paycheck Checkup.”
It’s important to check your federal income tax withholding now to avoid an unexpected tax bill or penalty at tax time. The IRS Withholding Calculator can help.
Everyone should check their withholding. Due to tax law changes, it’s especially important to check now if you:
• Are a two-income family
• Have two or more jobs at the same time
• Work a seasonal job or only work part of the year
• Claim credits like the child tax credit
• Have dependents age 17 or older
• Itemized your deductions on your 2017 return
• Have high income or a complex tax return
• Had a large tax refund or tax bill for 2017
Use the IRS Withholding Calculator to do a Paycheck Checkup
• The IRS Withholding Calculator helps figure out if you should submit a new Form W-4 to your employer.
• Have your most recent pay stub and federal tax return on hand.
• The calculator’s results are only as accurate as the information you enter.
• Find the IRS calculator at IRS.gov/withholding.