NEW Tax Withholding Estimator!

The IRS has launched a new & easy to use Tax Withholding Estimator tool! 

The estimator makes it easier for taxpayers to review their withholding & helps them make sure that they are having the correct amount of tax withheld during the year. 

This was created as a part of an ongoing effort by the IRS to improve the quality of their services for taxpayers, as well as adapting to the modern world of technology & relationships. 

Some benefits & features of this estimator are:

  • it uses plain & easy to understand language
  • allows taxpayers to more effectively target their correct tax withholding amount 
  • has a mobile-friendly design
  • lets users move back and forth through the steps & pages, also allowing them to skip questions that do not apply
  • contains enhanced links & tips to help the user determine if they qualify for certain tax deductions or credits
  • has a progress tracker showing how much more information is needed 
  • automatic calculation of the taxable portion of Social Security benefits
  • for users who have self-employment income in an addition to wages or pensions, this estimator has self-employment tax on it too

Check out the Tax Withholding Estimator from the IRS here

 

 

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