The IRS encourages everyone to use the Tax Withholding Estimator to perform a quick “paycheck checkup.”
Payroll Vault make it easy for your employees to change their withholdings. They login to their portal and change withholding allocations. This saves you time and money.
The Estimator helps you identify your tax withholding to make sure you have the right amount of tax withheld from your paycheck at work.
There are several reasons to check your withholding:
- Checking your withholding can help protect against having too little tax withheld and facing an unexpected tax bill or penalty at tax time next year.
- At the same time, with the average refund topping $2,800, you may prefer to have less tax withheld up front and receive more in your paychecks.
