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Are you withholding enough taxes?

Updated: Dec 12, 2022


You may want to consider adjusting your withholding if you owed taxes or received a large refund last tax season. Changing withholding can help you avoid a tax bill. Did you have any life changes in 2021 (got married or divorced, welcoming a child or taking on a second job)? You may want to consider changing your withholding if you did. You should complete a new Form W-4, Employee's Withholding Certificate, each year and when personal or financial situations change.

You also need to consider estimated tax payments. Individuals who receive a substantial amount of non-wage income like self-employment income, investment income, taxable Social Security benefits and in some instances, pension and annuity income should make quarterly estimated tax payments. The last payment for 2021 is due on Jan. 18, 2022.

Individuals can log in to their Online Account to make a payment online or go to IRS.gov/payments.


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