Seasonal, Part-year Workers Urged to Check Tax Withholding Amount

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November 12, 2018

Seasonal, Part-year Workers Urged to Check Tax Withholding Amount IR-2018-118, May 9, 2018 IR-2018-118, May 9, 2018 WASHINGTON – the Internal Revenue Service today encouraged taxpayers who work seasonal jobs or are employed part of the year to visit the Withholding Calculator and perfORM a “paycheck checkup.” WASHINGTON – the Internal Revenue Service today encouraged […]

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Seasonal, Part-year ers Urged to Check Tax Withholding Amount

IR-208-8, May 9, 208

IR-208-8, May 9, 208

WASHINGTON – The Internal Revenue Service today encouraged taayers who seasonal jobs or are employed part of the year to visit the Withholding Calculator and perform a “paycheck checkup.”

WASHINGTON – The Internal Revenue Service today encouraged taayers who seasonal jobs or are employed part of the year to visit the Withholding Calculator and perform a “paycheck checkup.”

The Tax Cuts and Jobs Act made changes to the tax law, including increasing the standard deduction, eliminating al exemptions, increasing the tax cit, limiting or discontinuing certain deductions and changing the tax rates and brackets. These changes do not affect 207 tax returns due earlier this year, but they will affect 208 tax returns filed next year.

The Tax Cuts and Jobs Act made changes to the tax law, including increasing the standard deduction, eliminating al exemptions, increasing the tax cit, limiting or discontinuing certain deductions and changing the tax rates and brackets. These changes do not affect 207 tax returns due earlier this year, but they will affect 208 tax returns filed next year.

Any changes that a part-year makes to their withholding can affect each paycheck in a larger way than s who year-round.

Any changes that a part-year makes to their withholding can affect each paycheck in a larger way than s who year-round.

The Withholding Calculator, a special tool on IRS.gov, can help taayers with part-year employment estimate their income, cits, adjustments and deductions more accurately and check if they have the right amount of tax withheld for their financial situation.

The Withholding Calculator, a special tool on IRS.gov, can help taayers with part-year employment estimate their income, cits, adjustments and deductions more accurately and check if they have the right amount of tax withheld for their financial situation.

The calculator asks about the dates of a taayer’s employment and accounts for a part-year ’s shorter employment rather than assuming that their weekly tax withholding amount would be applied to a full year. The calculator makes s for part-year s accordingly. If a taayer has more than one part-year job, the Withholding Calculator can account for this as well. In contrast, the Form W-4 sheets do not distinguish between part-year jobs and full-year jobs.

The calculator asks about the dates of a taayer’s employment and accounts for a part-year ’s shorter employment rather than assuming that their weekly tax withholding amount would be applied to a full year. The calculator makes s for part-year s accordingly. If a taayer has more than one part-year job, the Withholding Calculator can account for this as well. In contrast, the Form W-4 sheets do not distinguish between part-year jobs and full-year jobs.

Taayers should have a completed 207 tax return available when using the Withholding Calculator to help determine their proper withholding for 208 and avoid issues when they file their returns in early 209. Taayers also their most recent paystub before using the Withholding Calculator.

Taayers should have a completed 207 tax return available when using the Withholding Calculator to help determine their proper withholding for 208 and avoid issues when they file their returns in early 209. Taayers also their most recent paystub before using the Withholding Calculator.

Calculator results depend on the accuracy of information ente. If a taayer’s al circumstances change during the year, they should return to the calculator to check whether their withholding should be adjusted. For taayers who for only part of the year, it’s best to do a “paycheck checkup” early in their employment period so their tax withholding is most accurate from the start.

Calculator results depend on the accuracy of information ente. If a taayer’s al circumstances change during the year, they should return to the calculator to check whether their withholding should be adjusted. For taayers who for only part of the year, it’s best to do a “paycheck checkup” early in their employment period so their tax withholding is most accurate from the start.

The Withholding Calculator does not request ally-identifiable information, such as name, Social Security number, address or bank account numbers. The IRS does not save or record the information ente on the calculator. As always, taayers should watch out for tax scams, especially via email or phone and be especially alert to cybercriminals imating the IRS. The IRS does not send emails related to the calculator or the information ente.

The Withholding Calculator does not request ally-identifiable information, such as name, Social Security number, address or bank account numbers. The IRS does not save or record the information ente on the calculator. As always, taayers should watch out for tax scams, especially via email or phone and be especially alert to cybercriminals imating the IRS. The IRS does not send emails related to the calculator or the information ente.

If the calculator results indicate a change in withholding amount, the should complete a new Form W-4 and should submit it to their employer as soon as possible. s with a change in al circumstances that uces the number of withholding allowances should submit a new Form W-4 with corrected withholding allowances to their employer within 0 days of the change.

If the calculator results indicate a change in withholding amount, the should complete a new Form W-4 and should submit it to their employer as soon as possible. s with a change in al circumstances that uces the number of withholding allowances should submit a new Form W-4 with corrected withholding allowances to their employer within 0 days of the change.

As a rule, the fewer withholding allowances an enters on the Form W-4, the higher their tax withholding will be. Entering “0” or “” on line 5 of the W-4 means more tax will be withheld. Entering a bigger number means less tax withholding, resulting in a smaller tax refund or potentially a tax bill or penalty.

As a rule, the fewer withholding allowances an enters on the Form W-4, the higher their tax withholding will be. Entering “0” or “” on line 5 of the W-4 means more tax will be withheld. Entering a bigger number means less tax withholding, resulting in a smaller tax refund or potentially a tax bill or penalty.

The IRS encourages taayers to review additional details about withholding by visiting IRS.gov.

The IRS encourages taayers to review additional details about withholding by visiting IRS.gov.


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