IRS Updates Withholding Calculator
The IRS continues to work to catch up to the changes imposed on the tax system by the Tax Cuts and Jobs Act (TCJA). In early August, the service announced the release of a revised Withholding Calculator to better estimate tax liability after the changes. Many people were surprised that their refunds were much smaller or even worse, they owed taxes with their returns when filing for 2018 due to the new withholding tables being implemented midsummer last year. If you are interested in using the new calculator, click here to visit the IRS site.
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J. Alan Hayes