Federal Tax, Tax

Tax Withholding Myth

Myths about federal tax refunds keep coming and the IRS is continuing to combat misinformation. One common myth is that if you get a refund this year, there’s no need to adjust your withholding for 2022. That may not be true if you want to avoid surprises next year. You can use the IRS Tax Withholding Estimator tool to find out if you’ll have enough tax withheld. If you’re waiting for a refund, you should know there’s no secret way to learn when you’ll get it. Ordering a tax transcript won’t help you find out, nor will calling the IRS. However, there is a “Where’s My Refund” tool. You can find links to it, the estimating tool and learn more about tax myths here.  For questions, contact the Cg Team. © 2022