Now that the last quarter of 2021 is here, the IRS is reminding taxpayers that it’s a good time to check withholding. Life changes that might’ve occurred in 2021 can affect your taxes. Examples include: COVID-19 relief you may have received; disaster relief, such as for a wildfire or hurricane; job loss; possible gig economy income; marriage; and a new baby. If too little is withheld, you could incur penalties at tax-filing time. Or, if too much is withheld, you could put more cash in your pocket now with a simple change. Use the IRS Tax Withholding Estimator tool in this link to determine if you need to make a change, or contact us with questions.
Here’s more: Give tax withholding a fresh look
