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After drawing much ire from taxpayers and tax professionals alike for a confusing, inaccurate tax withholding estimator, the IRS has released a revamped version that promises a new approach and an easier way for taxpayers to review their withholdings. The redesign comes after numerous taxpayers were blindsided by unexpected tax bills, decreased refunds and tax penalties for the 2018 tax year. 

The new calculator has a mobile-friendly design, plain language, a more intuitive platform, automatic calculation for Social Security benefits, and added features for those that are self-employed. We strongly urge our clients to check withholdings sooner rather than later to make sure the correct amount is withheld and to avoid any unwelcome surprises at the end of the year.