Tag Archive for Withholding Calculator

Tax Cuts And Jobs Act Withholding Calculator And New W-4

Daniel Gray, Tax Advisor, Tax Blog, Toronto, Canada, TaxConnections

The Internal Revenue Service this week released an updated withholding calculator and a new version of Form W-4. The calculator and new W-4 can be used to ensure 2018 individual tax withholding amounts are accurate in light of the recent tax law changes.

The Tax Cuts and Jobs Act made changes to the tax law, including increasing the standard deduction, removing personal exemptions, increasing the child tax credit, limiting or discontinuing certain deductions and changing the tax rates and brackets. Read more

Calculator Helps Taxpayers Review Withholding For New Tax Law

Thomas Kerester, Tax Ambassador, Tax Blog, Washington D.C., USA, TaxConnections

WASHINGTON –The Internal Revenue Service today released an updated Withholding Calculator on and a new version of Form W-4 to help taxpayers check their 2018 tax withholding following passage of the Tax Cuts and Jobs Act in December.

The IRS urges taxpayers to use these tools to make sure they have the right amount of tax taken out of their paychecks.

“Following the major changes in the tax law, the IRS encourages employees to check their paychecks to help ensure they’re having the right amount of tax withheld for their personal situation,” said Acting IRS Commissioner David Kautter. Read more

Still Time To Act To Avoid Surprises At Tax-Time

Even though only a few months remain in 2014, you still have time to act so you aren’t surprised at tax-time next year. You should take steps now to avoid owing more taxes or getting a larger refund than you expect. Here are some actions you can take to bring the taxes you pay in advance closer to what you’ll owe when you file your tax return:

• Adjust your withholding. If you’re an employee and you think that your tax withholding will fall short of your total 2014 tax liability, you may be able to avoid an unexpected tax bill by increasing your withholding. If you are having too much tax withheld, you may get a larger refund than you expect. In either case, you can complete a new Form W-4, Employee’s Withholding Allowance Certificate and give it to your employer. Enter the added amount you want withheld from each paycheck until the end of the year on Line 6 of the W-4 form. Read more

Newly Wed And Starry Eyed… Here Are Some Tax Tips To Remember

We were attending a dear friend’s daughter’s engagement when this thought occurred to me that most newly weds don’t think of the change in their Tax Filing Status till Tax Time. Yes, blame it on my tax “nerd”i-ness!! I don’t mean to burst the newly wed pink bubble, but these are important things to remember!

Now that DOMA, Section 3 has been over-turned by the Supreme Court as well, there’s even more details to keep in mind.

Here are several tips for newlyweds from the Internal Revenue Service:

• It’s important that the names and Social Security numbers that you put on your tax return match your Social Security Administration records. If you have changed your name, report Read more

Meet Tax Experts At TaxConnections...