IRS WITHHOLDING CALCULATOR
The IRS withholding calculator is an online tool the Internal Revenue Service provides to help taxpayers estimate the appropriate amount of federal income tax to withhold from their paychecks. By entering relevant information such as income, deductions, credits, and withholding allowances, taxpayers can estimate their tax liability for the year. The calculator considers filing status, dependents, additional income sources, and eligible tax credits to provide a more accurate withholding recommendation. The IRS withholding calculator can help taxpayers avoid underpaying or overpaying taxes throughout the year, ensuring they meet their tax obligations without incurring penalties or receiving a large refund at tax time.