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Oct 29, 2021
It’s a great time to check tax withholding
The final quarter of 2021 is the perfect time to remind employees to submit a new W4 if they want to change their Federal withholding for 2022.
Events like marriage, divorce, a new child or home purchase can all be reasons to adjust withholding.
The IRS Tax Withholding Estimator makes it easier for everyone to have the right amount of tax withheld. The IRS encourages everyone to use the IRS Tax Withholding Estimator to perform a "paycheck checkup". This will help you make sure you have the right amount of tax withheld from your paycheck.
There are several reasons to check your withholding:
Checking your withholding can help protect against having too little tax withheld and facing an unexpected tax bill or penalty at tax time next year.
At the same time, you may prefer to have less tax withheld up front, so you receive more in your paycheck and get a smaller refund at tax time.
Click the link below for the IRS Tax Withholding Estimator!
Additional information can be found HERE.
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