IRS Withholding Calculator If you are an employee, the Withholding Calculator can help you determine whether you need to give your employer a new Form W-4, Employee's Withholding Allowance Certificate to avoid having too much or too little Federal income tax withheld from your pay. You can use your results from the calculator to help fill out the form.
If you discover a tax return error after filing your return, you may need to amend your return.The IRS may correct errors in math on a return and may accept returns without certain forms or schedules. In these instances, there is no need to amend your return! However, do file an amended return if there is a change in your filing status, income, deductions, or credits. Also, if the Form 8938 (PDF), Statement of Specified Foreign Financial Assets, applies to you, the form must be filed with an annual return or an amended return. See When and How To File in the Form 8938 Instructions (PDF).
These few tax tips could save you some money and headaches.The filing deadline for “S” and “C” corporations always seems to arrive sooner than we hope. And if we're lucky we have our papers in order - if we're not, things can get tricky.
Even if you’ve never paid the Alternative Minimum Tax, before, you should not ignore this tax.Your taxes may have changed so that this may be the year that you need to pay AMT. You may have to pay this tax if your income is above a certain amount. AMT attempts to ensure that taxpayers who claim certain tax benefits pay a minimum amount of tax.