New IRS Withholding Calculator is Live

[Thrif-t]

I know we were talking about this in another thread, but I couldn't find it. The new calculator has been posted: https://www.irs.gov/individuals/irs-...ing-calculator

[corn18]

Thanks for the link. Just used it to validate that the spreadsheet I made to calculate my 2018 taxes is spot on.

DS, you should use it and see if your CPA was right about you getting screwed this year.

[Thrif-t]

So I went and did this today and my results are if we don't change our withholdings we will overpay by $70. I'll take it.

We get the AOTC for 2 our of college kids so I'm sure that has a lot to do with it. But still, glad I don't have to withhold more out of my check!

[james.hendrickson]

PSA: IRS has a new Tax Withholding Calculator

Hi All,

FYI- the IRS has a new tax withholding calculator. Its pretty extensive to account for the changes in the latest tax bill.

https://apps.irs.gov/app/withholdingcalculator/

From the IRS's webpage

The IRS encourages everyone to use the Withholding Calculator to perform a quick “paycheck checkup.” This is even more important this year because of recent changes to the tax law for 2018.

* The Calculator helps you identify your tax withholding to make sure you have the right amount of tax withheld from your paycheck at work.

* There are several reasons to check your withholding:

* Checking your withholding can help protect against having too little tax withheld and facing an unexpected tax bill or penalty at tax time next year.

* At the same time, with the average refund topping $2,800, you may prefer to have less tax withheld up front and receive more in your paychecks.

* If you are an employee, the Withholding Calculator helps you determine whether you need to give your employer a new Form W-4, Employee's Withholding Allowance Certificate. You can use your results from the Calculator to help fill out the form and adjust your income tax withholding.