It's Time for a Paycheck Checkup

September 3, 2019 @ 3:38 PM · Taxes

W-2 and W2P CertificatesTaxpayers who haven’t checked their withholding this year should do so as soon as possible.  A "Paycheck Checkup" can help you see if you’re withholding the right amount of taxes from your paycheck. In general, this should be performed whenever there are major lifestyle changes like marriage or divorce, birth or adoption, new job or unemployment, etc. 
 
Major tax law changes should also prompt a paycheck checkup.  This year, the Tax Cuts and Jobs Act resulted in some taxpayers being surprised by a smaller refund,  an unexpected tax bill, and/or an underpayment penalty because they had not made the proper withholding adjustment in 2018.  
 

Taxpayers most likely...

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