Federal Tax, Tax

Adjust Withholding to Current Financial Situation

The 2021 tax filing season is nearly over, with the April 18 tax filing deadline fast approaching. If you’ve filed your return, were you unpleasantly surprised to learn that you owed the IRS money? Or perhaps you thought your refund was too small or too big? If this was the case, your withholding adjustments might be misaligned with your current financial situation. The IRS’s online Tax Withholding Estimator can help taxpayers ensure that they’re having the right amount of tax taken out of their pay. The IRS recommends checking withholding at least once a year or after a major life change. Access the Tax Withholding Estimator here or contact us for more information. © 2022