Do a Paycheck Checkup

September 25, 2019

Personal finance experts suggest doing a checkup on your federal withholding every year to avoid withholding too little or too much federal tax from your paycheck.

The Internal Revenue Service (IRS) has just released an expanded online tool to make it easier for you to estimate the correct amount of taxes to have withheld from your paycheck. Even though the calendar year is more than half over, there is still time to adjust withholding for the rest of the year.
 
Check out this news story from the IRS for more details or go directly to the Tax Withholding Estimator to start the process. If you want to make any changes to your withholding after you use the estimator tool, review this page on the VPF website, and then make changes via Atlas.

If you have questions about your tax withholding, contact payroll@mit.edu.