The IRS wants you to check up on your paycheck. Here’s why

The IRS wants you to check up on your paycheck. Here’s why
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HONOLULU, Hawaii (HawaiiNewsNow) - If you don’t want to pay the IRS come tax filing season next year, you may want to take a look at your paycheck now.

The IRS is urging taxpayers to make sure they’re withholding enough from their paychecks each month so they don’t have a big bill in April 2020.

That was the case for many taxpayers this past filing season due to big changes to federal tax laws.

The IRS says a “paycheck checkup” is especially important for those who:

  • Are expected to owe less tax or get a bigger 2018 tax refund.
  • Had a major life change this year, such as a birth or adoption of a child, marriage, divorce, retirement, home purchase, has a dependent older than 17, or has a relative who has become a dependent.
  • Have a two-income family.
  • Have two or more jobs at the same time or only works part of the year.
  • Claim credits like the Child Tax Credit.
  • Had itemized deductions in the past.
  • Have a high income or a complex tax return.

The IRS has an online calculator so you can determine if you’re withholding the right amount.

For more information about paycheck withholding, click here.

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