30 million people are not withholding enough for taxes. Here's how to tell if you’re one of them.
On the other hand, GAO said, nearly three-quarters of taxpayers will have withheld too much during 2018 and will receive a refund next year.to reflect the new Tax Cuts and Jobs Act.
Changes stemming from the new law include the end of personal exemptions, the doubling of the standard deduction and lower individual income tax rates. The withholding tables are guidelines your employer follows in order to deduct the appropriate amountThey also work with Form W-4, which you can use to tailor the taxes withheld from your pay.
The GAO also found that under the old tax law, 18 percent of taxpayers — roughly 27 million people — would have not withheld enough money.Review your formsReviewing your W-4 is a good practice in any tax year. If not enough is withheld, you'll owe money come tax time. Pay too much, and you end up with a
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