Whether you’re planning on flipping burgers or taking on any other work this summer, ’tis the season to give your paycheck the once-over.
The IRS is asking people who work more than one job or who are starting new jobs this summer to do a “paycheck checkup” to make sure they are having enough money taken out.
“Checking and adjusting tax withholding as early as possible in 2019 is the best way to head off a tax-time surprise next year,” the federal agency stated in a news release.
Changes to the U.S. tax code, which took effect in 2018, meant many people received tax refunds that were larger or smaller than anticipated this tax season.
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“Two-income families and people with multiple jobs may be more vulnerable to being under-withheld or over-withheld following these major law changes,” the IRS said, stressing the importance of updating withholding information.
If you have any additional questions about your withholdings, don’t hesitate to reach out to Peekz ConsultiN and make an appointment.
Photo credit: Chan Walrus, Pexels–CC
Peekz ConsultiN LLC is a Pittsburgh-based accounting firm, located in the West Side, that caters to individuals, small businesses and nonprofit organizations. We aim to empower clients to help them take control of their finances and achieve their dreams.