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Conduct a “paycheck checkup” to make sure your withholding is adequate
July 15, 2020
Categories: Business, Tax, Tax Breaks
Did you recently file your federal tax return and were surprised to find you owed money? You might want to change your withholding so that this doesn’t happen next year. You might even want to do that if you got a big refund. Receiving a tax refund essentially means you’re giving the government an interest-free loan. Withholding changes In 2018, the IRS updated the withholding tables that indicate how much employers should hold back from their employees’ paychecks. In