IRS created a one-page flyer to remind all of us to complete a Paycheck Checkup so we will not receive an unexpected tax bill or penalty at tax time. See the flyer and the link to use the IRS’s withholding calculator to complete the Paycheck Checkup. Employees who use the withholding calculator can determine if they need to submit a new Form W-4, Employee’s Withholding Allowance Certificate, to their employer. Employees should keep in mind that the accuracy of the calculator’s results depend on the information they enter. The IRS suggests that employees have their most recent pay statement and federal income tax return on hand when using the calculator.
Use the IRS Withholding Calculator to do a Paycheck Checkup • The IRS Withholding Calculator helps figure out if you should submit a new Form W-4 to your employer. • Have your most recent pay stub and federal tax return on hand. • The calculator’s results are only as accurate as the information you enter. • Find the IRS calculator at IRS.gov/withholding
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