• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / News / IRS reminding you again to review your paycheck witholding

IRS reminding you again to review your paycheck witholding

August 20, 2018 By Dar Danielson

The Internal Revenue Service is again asking you to make sure the right amount of taxes are being taken out of your paycheck.

IRS spokesman, Chris Miller, says it’s important to look at the numbers now. “Time is running out for taxpayers to do a paycheck checkup. To check their withholding yet this year — to make sure the right amount of tax is being withheld from their paycheck for their situation,” Miller says. Miller says if you find a problem, there are still a few months to adjust your withholding amount to fix it.

“Doing a paycheck checkup now is going to help those taxpayers avoid a potential unwelcome surprise at tax time,” according to Miller. “And that could be an unexpected tax bill and a penalty. Or it could be a refund that’s unnecessarily large.”   He says it’s better for you to not get a big refund, because you can use that money throughout the year.

Miller says they made an earlier push for everyone to check their withholding after the new tax law went into effect. “The new tax law will change the way many of us calculate our taxes. And it also has changed the amount of tax our employers are withholding from our paychecks,” Miller explains. He says those with more complicated tax returns are the ones who most need to check their withholding.

Miller says that includes two-income households, those with two or more jobs at a time, those who have had a job only part of the year, those who claim the child tax credit or itemize deductions in 2017 are all some who may see differences. Miller says they know that many people haven’t looked at their withholding since the tax law changed. He says it is easy to do.

“Just go to our website www.irs.gov and click on the link to do a paycheck checkup, or search for the withholding calculator,” Miller says. “You will need last year’s tax return, and a copy of your most recent pay stub.” Miller says there are still several months left to allow you to adjust your withholding and make up for any imbalance. But he says if you wait — you could run out of time to make a correction that would make a difference.

Share this:

  • Facebook
  • Twitter

Filed Under: News Tagged With: Employment and Labor, Taxes

Featured Stories

Exhibit features lesser known works of Grant Wood

Testing finds 21 new CWD cases in deer

It may become a crime in Iowa to use fake urine in workplace drug tests

February trending 18 degrees below average temperature

Iowa House Education Committee votes to end tenure at UI, ISU, UNI

TwitterFacebook
Tweets by RadioIowa

Confusion at MVC Tournament as UNI exits prior to quarterfinal round game

Iowa State looks to avoid winless Big-12 season

New look and new format at girls’ state basketball

Youngstown State takes action against assistant football coach

Iowa’s Jack Nunge lost for the season

More Sports

eNews and Updates

Enter your email address:

Delivered by FeedBurner

Archives

Copyright © 2021 · Learfield News & Ag, LLC