Tag Archives: Tax Withholding
The Importance of Double-Checking Your Withholding Amount
The Tax Cuts and Jobs Act, which went into effect this year and so will affect 2018 tax returns filed next year, made significant changes that will affect how tax withholding is calculated. For instance, the new amendments increased standard deductions, discontinued other deductions, changed tax rates, increased the Child Tax Credit, and eliminated… Read More »
Reviewing Your Tax Withholding
A few weeks ago, the Internal Revenue Service (IRS) published a letter, urging taxpayers to check their tax withholding to ensure that the correct amount of federal income tax is being taken from their paychecks. According to the IRS, taking this step could affect potential refunds or the amount of taxes owed in 2018…. Read More »
