So...you might have noticed throughout 2018 you received more money back on your paycheck. Normally, this is a good thing. However, what if you did not have enough taxes withheld from your paycheck resulting in either a smaller refund or a tax bill in 2019?
The new tax law could affect how much tax you should have your employer withhold from your paycheck. To help make this determination, the IRS has created and published a Withholding Calculator on IRS.gov. The Withholding Calculator can help prevent taxpayers from having too little or too much tax withheld from their paycheck. Having too little tax withheld can mean a smaller refund, an unexpected tax bill or potentially a penalty at tax time in 2019.
Read the IRS' full coverage of the Paycheck Check-up here:
Paycheck Checkup https://www.irs.gov/paycheck-checkup