Over-generous withholding tables could lead to a nasty surprise, next spring.
The IRS is calling attention to a significant underpayment issue resulting from the new withholding tables released earlier this year. The tables over-compensated for the new tax law, and many W2 employees are not withholding enough. As a result, they – and you – may be faced with smaller refunds or unexpected taxes due, next spring.
We’ll be happy to check your withholding calculations to assure that they’re adequate.
Please contact us soon, so timely corrections can be made, if necessary.