g5000
Diamond Member
- Nov 26, 2011
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Because of changes to the tax laws, particularly that some exemptions, credits, and deductions have gone away or been reduced, your employer may be unintentionally underwithholding your taxes.
This means your paycheck might be bigger because you are not having enough income withheld for taxes.
After Public Law 115-97 was enacted last December, the GAO did a checkup on the current formulas used for income tax withholding, and they found that 30 million Americans are going to be in for quite a shock next April.
You can read their report here: https://www.gao.gov/assets/700/693582.pdf
You can check how much your withholding should be here: IRS Withholding Calculator | Internal Revenue Service
Compare that to your pay stub. Adjust accordingly, before it is too late.
You're welcome.
This means your paycheck might be bigger because you are not having enough income withheld for taxes.
After Public Law 115-97 was enacted last December, the GAO did a checkup on the current formulas used for income tax withholding, and they found that 30 million Americans are going to be in for quite a shock next April.
You can read their report here: https://www.gao.gov/assets/700/693582.pdf
You can check how much your withholding should be here: IRS Withholding Calculator | Internal Revenue Service
Compare that to your pay stub. Adjust accordingly, before it is too late.
You're welcome.