Do a paycheck checkup. It is especially important this year because of all the tax-law changes that have occurred and likely will continue to occur for 2018. Your goal should be neither to owe a large amount nor to receive a large refund.
IRS released a withholding calculator in February incorporating the tax-law changes that took place in December. You can find it here: https://www.irs.gov/individuals/irs-withholding-calculator. The process can be complex, so if you’d like assistance you can call us and we’ll help you through the process.
You can change your withholding at any time during the year, and IRS will consider the change to have been applied ratably over the entire tax year. Any change made later in the year, though, will have less impact. There is still time!
This is important for all taxpayers but especially those with two incomes, higher earners, those who use the Child Tax Credit and taxpayers who itemized deductions in 2017.