IRS Urges Taxpayers to Update Withholding or Payments Before Tax Season

The IRS is encouraging taxpayers to review and adjust their tax withholding or estimated payments before the year ends to avoid surprises during tax season.

Who Should Pay Attention?

• Gig economy workers
• People with a side hustle
• Those earning income not subject to withholding

These taxpayers should check if they are paying enough taxes throughout the year to prevent penalties or unexpected bills. The Tax Withholding Estimator on IRS.gov can help calculate the correct withholding or estimated payments.

Key Points to Consider:

• Taxes are pay-as-you-go, so it’s important to withhold the right amount or make timely estimated payments.
• Refunds result from overpayment, but many face penalties for underpaying.
• Life changes like a new job, marriage, or having a child should trigger a tax review.

Use the Tax Withholding Estimator to adjust your taxes today and avoid complications later. Visit IRS.gov for more information.

IRS Withholding Estimator: https://www.irs.gov/individuals/tax-withholding-estimator