CHEYENNE, Wyo. (RELEASE) - The Internal Revenue Service will provide a free online session Thursday, Sept. 19 at 2 p.m. Eastern time to explain the new Tax Withholding Estimator.
The estimator is a mobile-friendly online tool that uses a simple six-step process to help taxpayers find out if the right amount is being witheld from income to cover their taxes. It works for all taxpayers, including workers, self-employed people and retirees.
“Checking and adjusting tax withholding as early as possible is the best way to head off a tax-time surprise next year,” said IRS spokesperson David Tucker II. “The new estimator takes a new approach and makes it easier for taxpayers to review their withholding.”
This webinar is part of an ongoing effort to help taxpayers understand how to do a ‘Paycheck Checkup.’ Routine checkups help ensure taxpayers are withholding the right amount of tax from their paycheck for their situation. That’s especially important because tax reform has changed the way many people calculate their taxes.
This two-hour webinar includes a question and answer session and covers the basics of using the online IRS Withholding Estimator. It also details who should check their withholding, including taxpayers who:
• Have a two-income family.
• Work two or more jobs at the same time or only work part of the year.
• Claim credits like the Child Tax Credit.
• Have dependents age 17 or older.
• Itemized deductions in the past.
• Have high income or a complex tax return.
• Had a large tax refund or tax bill for 2018.
Those interested in attending should preregister. It is recommended attendees log in 10 minutes prior to the start time. Closed captioning will be available. Tax professionals can earn two continuing education (CE) credits. Find previous archived webinars on www.irsvideos.gov.