Perform a Quick "Paycheck Checkup"
The IRS encourages everyone to use their Withholding Calculator to perform a quick "paycheck checkup." The Calculator helps you identify your tax withholding to make sure you have the right amount of tax withheld from your paycheck at work.
The Calculator will ask you to estimate values of your 2019 income, the number of children you will claim for the Child Tax Credit and Earned Income Tax Credit, and other items that will affect your 2019 taxes. Allow yourself a few minutes to fill out the information and follow the tips below:
- Gather your most recent pay stubs.
- Have your most recent income tax return handy; a copy of your completed Form 1040 will help you estimate your 2019 income and speed up the process.
- Keep in mind that the Calculator's results will only be as accurate as the information you provide. If your circumstances change during the year, come back to this Calculator to make sure that your withholding is still correct.
- The Withholding Calculator does not ask you to provide sensitive personally-identifiable information like your name, Social Security number, address, or bank account numbers. The IRS does not save or record the information you enter on the Calculator.
Click here to get started! For a full list of insights and instructions, please visit the IRS website.
Posted on Thu, June 13, 2019
by The Paytime Team