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.