{"id":29378,"date":"2020-10-07T08:49:53","date_gmt":"2020-10-07T13:49:53","guid":{"rendered":"http:\/\/postalemployeenetwork.com\/news\/?p=29378"},"modified":"2020-10-07T08:49:53","modified_gmt":"2020-10-07T13:49:53","slug":"postal-employees-urged-to-do-paycheck-checkup","status":"publish","type":"post","link":"https:\/\/postalemployeenetwork.com\/news\/2020\/10\/07\/postal-employees-urged-to-do-paycheck-checkup\/","title":{"rendered":"Postal employees urged to do paycheck checkup"},"content":{"rendered":"<p><a href=\"https:\/\/link.usps.com\/2020\/10\/07\/moneys-worth\/\">USPS News Link<\/a> &#8211; 10\/7\/20 &#8211; USPS and the Internal Revenue Service are encouraging employees to conduct a <em><a href=\"https:\/\/www.irs.gov\/paycheck-checkup\" target=\"_blank\" rel=\"noopener noreferrer\">paycheck checkup<\/a><\/em>\u00a0to determine whether they need to update their tax withholding for 2020.<\/p>\n<p>Updating federal withholding is especially important for employees who had an unexpectedly high tax bill or a penalty this year.<\/p>\n<p>Similarly, employees who have had a major life change \u2014 such as marriage, birth of a child or purchase of a home \u2014 might have to adjust their tax withholding.<\/p>\n<p>To ensure the right amount of tax is withheld during the year, employees can use the IRS.gov\u00a0<em><a href=\"https:\/\/www.irs.gov\/individuals\/tax-withholding-estimator\" target=\"_blank\" rel=\"noopener noreferrer\">Tax Withholding Estimator<\/a><\/em>.<\/p>\n<p>The mobile-friendly tool uses a plain language, step-by-step format to enter wages and withholding for each job held by a taxpayer and spouse.<\/p>\n<p>Employees will need their most recent pay statements, information on other sources of income \u2014 and, if applicable, a spouse\u2019s income \u2014 and most recent income tax return.<\/p>\n<p>The estimator will determine the expected tax withholding and anticipated tax obligation.<\/p>\n<p>The tool also automatically calculates the taxable portion of any Social Security benefits, provides tips to help quickly determine qualifications for tax credits and deductions, and more.<\/p>\n<p>At the end of the process, the tool makes specific withholding recommendations and clearly explains what the taxpayer should do next based on the estimator results.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-29303 size-medium\" src=\"https:\/\/postalemployeenetwork.com\/news\/wp-content\/uploads\/2020\/09\/Newslink-300x176.jpg\" alt=\"\" width=\"300\" height=\"176\" srcset=\"https:\/\/postalemployeenetwork.com\/news\/wp-content\/uploads\/2020\/09\/Newslink-300x176.jpg 300w, https:\/\/postalemployeenetwork.com\/news\/wp-content\/uploads\/2020\/09\/Newslink.jpg 478w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>USPS News Link &#8211; 10\/7\/20 &#8211; USPS and the Internal Revenue Service are encouraging employees to conduct a paycheck checkup\u00a0to determine whether they need to update their tax withholding for 2020. Updating federal withholding is especially important for employees who had an unexpectedly high tax bill or a penalty this year. Similarly, employees who have [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":28638,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-29378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking","last_archivepost"],"_links":{"self":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts\/29378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/comments?post=29378"}],"version-history":[{"count":1,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts\/29378\/revisions"}],"predecessor-version":[{"id":29379,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts\/29378\/revisions\/29379"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/media\/28638"}],"wp:attachment":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/media?parent=29378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/categories?post=29378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/tags?post=29378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}