IRS launches new online tax withholding estimator
The Internal Revenue Service on Tuesday launched the Tax Withholding Estimator, an expanded, mobile-friendly online tool designed to make it easier to have the right amount of tax withheld during the year. The new tool offers workers, as well as retirees, self-employed individuals and other taxpayers a more user-friendly step-by-step tool for effectively tailoring the amount of income tax they have withheld from wages and pension payments, according to the IRS. “The new estimator takes a new approach and makes it easier for taxpayers to review their withholding,” said IRS Commissioner Chuck Rettig. “This is part of an ongoing effort by the IRS to improve quality services as we continue to pursue modernization and enhancements of our taxpayer relationships.” To access the Tax Withholding Estimator, click here.