IRS urges you adjust your withholding now because next year's refund might be late

The Internal Revenue Service (IRS) is encouraging taxpayers to consider a mid-year tax withholding checkup following several new factors that could affect their refunds in 2017.

Taking a closer look at the taxes being withheld can help ensure the right amount is withheld, either for tax refund purposes or to avoid an unexpected tax bill next year.

The withholding review takes on even more importance this year given a new tax law change that requires the IRS to hold refunds a few weeks for some early filers in 2017 claiming the Earned Income Tax Credit and the Additional Child Tax Credit. In addition, the IRS and state tax administrators continue to strengthen identity theft and refund fraud protections, which means some tax returns could again face additional review time next year to protect against fraud.

Read more: https://www.irs.gov


Post a Comment

Note: Only a member of this blog may post a comment.

Toggle Footer