Tax withholding is complicated, and the changes brought by the Tax Cuts and Jobs Act of 2017 have made it even more difficult to estimate the correct amount. This article discusses which taxpayers should be particularly interested in implementing a “paycheck check-up” to confirm correct withholding amounts. These include taxpayers receiving large refunds, high-income taxpayers with complicated returns, those with dependents, those working in the sharing economy, those who owe estimated taxes, and retirees with pension and annuity income. 

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Your tax advisor at Sharrard, McGee & Co., PA can help you review your withholding to determine that you won’t have any unpleasant surprises when your tax returns are completed. Call (336) 884-0410 in High Point and (336) 272-9777 in Greensboro.