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Do I Need to Change my Withholding?

Due to the new tax legislation, tax rates for individuals have been changed and may require that you amend your withholding amount. The IRS Web site has a withholding calculator that reflects the new income tax rates. The program is easier to follow than the paper Form W-4 instructions. The program asks questions and does not allow you to proceed to the next step without submitting all necessary information. The result is a complete, new Form W-4 that you can submit to your employer to ensure the correct amount is being withheld. To use the program, you need your most recent pay stub and income tax return. To find the calculator, you can go to the IRS website.