All taxpayers should check their withholding – also known as doing a Paycheck Checkup – as soon as possible. They should do a checkup even if they did one last year.
By checking their withholding, taxpayers can make sure enough is being taken out of their paychecks or other income to cover the tax owed. Here are some things taxpayers should know about withholding and why checking it is important:
Taxpayers should check their withholding as early in the year as possible. If someone still has not done a Paycheck Checkup, there’s still time to get their withholding on track. They should do a checkup ASAP.
Taxpayers should also check their withholding when life changes occur. These changes include things like:
Marriage or divorce
Birth or adoption of a child
Purchase of a home
Retirement
Chapter 11 bankruptcy
New job or loss of job
The best way for taxpayers to check their withholding is to use the Withholding Calculator on IRS.gov.