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Year-end Tax Withholding Adjustments

October 25, 2022

With the end of the year just several weeks away are you sure you’re having the right amount of tax withheld? The IRS urges taxpayers to check their tax withholding while there’s time left. By making an adjustment now you may avoid a big surprise, such as a balance due when you file your tax return in 2023. Conversely if you’re having too much withheld you can raise your paycheck immediately by adjusting your withholding. Keep in mind that life events, such as a marriage, divorce, birth of a child, home purchase or a new tax law can all impact the amount you should withhold. Use the IRS Tax Withholding Estimator tool to find out if you’re on the right track and reach out to our team with questions.

Posted October 25, 2022


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Chris Powers, CPA

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