IRS Spotlights “Paycheck Checkup”
Friday, July 24, 2020

IRS Spotlights “Paycheck Checkup”

By Payroll and Entitlements Editorial Staff

The IRS has urged taxpayers to use the IRS Tax Withholding Estimator to do a Paycheck Checkup for monitoring that the right amount of tax is withheld. The Service recommends that anyone who changed their withholding this year or received a tax bill after they filed their 2019 return should do a Paycheck Checkup.

Withholding tax estimator. The Tax Withholding Estimator, a tool on the IRS website, is designed to help taxpayers determine how to have the right amount of tax withheld from their paychecks. It offers workers, retirees, self-employed individuals and other taxpayers a clear, step-by-step method to help determine if there is a need to adjust their withholding and submit a new Form W-4 to their employer. (IRS News Release IR-2020-149, July 10, 2020).

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