IRS wants you to check your federal withholding

USPS News Link – 6/18/19 – The IRS is encouraging Postal Service and other employees to review their 2019 federal income tax withholding.

According to the IRS, withholding changes made last year as a result of the new tax law may have a different effect if left in place for all of 2019.

The IRS offers an online withholding calculator that can help you determine if you should submit a new Form W-4 to the Postal Service.

You should have your most recent pay stub and federal tax return on hand. The calculator’s results are only as accurate as the information you enter.

According to the IRS, it’s especially important to check your withholding if you:

  • Made withholding changes in 2018
  • Owed tax when you filed your tax return this year
  • Had a refund that was larger or smaller than expected
  • Had life changes, such as marriage, childbirth, adoption or buying a home
  • Had changes to your income
  • Have children and claim credits, such as the child tax credit
  • Have older dependents, including children age 17 or older
  • Itemized deductions in the past
  • Are a two-income family
  • Have two or more jobs at the same time
  • Only work part of the year
  • Have high income or a complex tax return

You can use PostalEASE to make changes to your Form W-4.

If you have questions, you should consult the IRS, a qualified tax preparer or a tax attorney.

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