The IRS encourages individuals to review their tax withholding during the last quarter of 2022. Employees can use the IRS’ Tax Withholding Estimator tool to see if they are having too much or too little withheld and if they should make an estimated tax payment or adjust paycheck withholding to avoid surprise charges at tax time.
Several items during 2022 may impact taxes, including
- Coronavirus tax relief
- Disasters including wildfires and hurricanes
- Job loss
- Moving
- Life changes such as marriage or children.
The Tax Withholding Estimator can help employees make sure they are having the right amount of tax withheld. The tool may be accessed by clicking here.
