The IRS has launched a special campaign encouraging taxpayers to perform a “paycheck checkup” to ensure the right amount of tax is being withheld from their paychecks for 2019. This is particularly important given changes implemented by the Tax Cuts and Jobs Act (TCJA). For 2018, some taxpayers received refunds that were larger or smaller than anticipated, and some unexpectedly owed additional tax. To help taxpayers avoid this for 2019, the IRS urges everyone to use the “Withholding Calculator” available at www.irs.gov . Taxpayers will need their completed 2018 tax return and most recent paystubs. Results from the calculator can be used to complete and submit a new Form W-4. News Release IR 2019-107.
