Tax Withholdings

After Pushback, IRS Will Hold Big Withholding Form Changes Until 2020 Tax Year

After Pushback, IRS Will Hold Big Withholding Form Changes Until 2020 Tax Year

the Internal Revenue Service (IRS) is still struggling to figure out how to assist taxpayers with their withholding under the new law. The push from Congress to make things “simple” means that many taxpayers might not be withholding enough - and that may not change any time soon.

Avoid penalty for underpayment of taxes; IRS says check withholding, make estimated payments

Avoid penalty for underpayment of taxes; IRS says check withholding, make estimated payments

With nearly 10 million U.S. taxpayers facing a penalty for underpayment of estimated tax last year, the Internal Revenue Service urges taxpayers to plan ahead, understand their options and avoid the penalty when they file in early 2019.

IRS Continues To Urge Taxpayers To Doublecheck Their Withholding As Tax Pros Express Concern Over Draft Form W-4

IRS Continues To Urge Taxpayers To Doublecheck Their Withholding As Tax Pros Express Concern Over Draft Form W-4

The hallmark of the Tax Cuts and Jobs Act of 2017 (TCJA) was supposed to be its simplicity. By eliminating the personal exemption amounts and doubling the standard deduction, the theory was that taxpayers would have a tax return that was so simple that it could fit onto a postcard. In the weeks and months following the TCJA, that postcard got a little bit bigger […].

Taxpayers with children, other dependents should check their withholding soon

Taxpayers with children, other dependents should check their withholding soon

The Internal Revenue Service urges taxpayers with children and other dependents to use the Withholding Calculator at IRS.gov to do a “paycheck checkup.” Changes made by the 2017 Tax Cuts and Jobs Act will affect 2018 returns that taxpayers will file in 2019.