February 6, 2023

2023 – 02/03

It’s common for individuals to realize during tax season that they didn’t have enough income tax withheld from their paychecks the previous year. This can result in tax due. To avoid this outcome, the IRS encourages you to check your withholding at least once a year or when certain events warrant it. These include tax law changes, life events (such as marriage or the birth of a child), a new job or a raise. You can check your withholding using the IRS’s Tax Withholding Estimator (https://bit.ly/33iBcZV). If you have a complex tax situation (for example, alternative minimum tax or kiddie tax liability), contact us for help.