Everyone should check their withholding


Everyone should check their withholding

It’s important to revisit your tax withholding, especially if major changes from the Tax Cuts and Jobs Act affected the size of your refund this year.  Even if you did a Paycheck Checkup last year, you should do it again to account for differences from TCJA or life changes.  A Paycheck Checkup can help you see if you’re withholding the right amount of tax from your paycheck.  Too little could mean an unexpected tax bill or penalty.

You should check your withholding if you . . .

Are a two-income family or someone with multiple jobs

Work a seasonal job or only work part of the year

Claim the child tax credit

Have dependents age 17 or older

Itemized your deductions in previous tax years

Have high income or a complex tax return

Had a large tax refund last year

Had a tax bill last year

 You can use the results from the Withholding Calculator to determine if you should: