USA IRS : Tips for Using Withholding Calculator

By | March 27, 2018
(Last Updated On: March 28, 2018)

Tips for Using Withholding Calculator

The IRS recommends that taxpayers use the calculator Retention in IRS.gov/espanol, to “verify your paycheck” and verify that their employers withhold the correct amount of income taxes from their paychecks.

Withholding Calculator can help prevent employees have too little or retention of your paycheck. Have very few withholding taxes can result in an unexpected tax liability or a penalty when imposed in 2019. And with the average refund is $ 2,800, some taxpayers may prefer to have less tax withheld in advance and receive more in their paychecks.

The following are some tips for using Withholding Calculator. Taxpayers should:

  • Use your federal income taxes on income and most recent pay stubs to help estimate your income and other items for 2018. Please note that the new tax law made significant changes in itemized deductions.
  • Include all information that applies to their situations.
  • Make estimates when necessary, but be aware that the results are as accurate as the information entered.
  • Click on the news links in the program provided they have questions.
  • Print the final screen that summarizes your entries and results. Using the results of the retention calculator to determine whether to complete a new form W-4 (SP), Exemption Certificate Retentions Employee.

Remember, no withholding calculator prompts the user personally identifiable information, such as name, social security number, address or bank account numbers. The IRS does not keep records or information that the taxpayer enters into the calculator.

For more detailed information, taxpayers should visit IRS.gov/espanol .

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